Welcome to the end of Summer edition of THE TREASURY HUB Banking and Treasury Markets Bulletin. This is a slightly shorter than usual publication given that Summer holidays tend to result in lower market activity.
On the currency front, the biggest mover was USD which has weakened considerably over the Summer and broken out of a downward (i.e. strengthening dollar) range that has existed for almost two years. Last month we stated that “EUR/USD has been stable for a few years but we expect more action in this currency pair in the second half of the year”. It appears to have kicked off quickly in July.