UK Jobless Rate Climbs and Private Sector Wage Growth Hits Five-Year Low, Weighing on Sterling

US Dollar Shows Mixed Performance Among G10 Currencies

The US dollar is displaying a varied performance when compared to other G10 currencies. Japanese government bonds continued their upward momentum following strong demand at a five-year auction, and even though yields declined, the yen has gained approximately 0.25%, making it today’s top performer among its peers.

In anticipation of the Reserve Bank of New Zealand’s likely hawkish policy decision tomorrow, the New Zealand dollar has strengthened by around 0.2%. Meanwhile, weaker-than-expected employment figures from the UK and subdued sentiment in Germany’s ZEW expectations index are putting pressure on both the British pound and the euro.

Elsewhere, as US and Iranian officials convene in Switzerland, Iran has partially closed the Strait of Hormuz to conduct military exercises, adding to geopolitical tensions.