GBP

The dollar looks set to break its four-day winning streak, reversing some of its gains as traders and investors tiptoe back into risk-sensitive assets within a quieter economic data environment. North American equity futures are building up to a mildly-positive open, Treasury yields are slipping, and most currency majors are posting incremental gains. Oil prices are pushing higher after the US hit another 14 Houthi launch sites in Yemen, and Pakistan launched an aerial assault against targets in Iran. The attack comes after an Iranian missile strike on Pakistan-based militants on Tuesday, and threatens to escalate into a wider conflict...

The dollar is holding near a one-month high and risk appetites are deteriorating as investors ratchet monetary easing expectations down in the face of a concerted jawboning campaign from central bankers. Odds on a rate cut at the Federal Reserve’s March meeting are down to less than 60 percent after Governor Christopher Waller warned policymakers would be “methodical and careful” in lowering borrowing costs. In a speech given yesterday morning, Waller disappointed investors expecting a repeat of previous rate-cutting cycles by saying “With economic activity and labor markets in good shape and inflation coming down gradually to 2 percent, I...