US Dollar22 Aug 2026
Dollar Under Pressure as GBP/USD Hits 1.36
US debt concerns unsettle markets ahead of a decisive week for inflation, growth and central bank policy
By Prem Raja · 3 min read
The Archive
All FX analysis
420 briefings on GBP, EUR, USD and the rest of G10 — from macro themes to the next central-bank move.
420 posts
Pound Sterling16 Aug 2026
Sterling Is Back in Control, But Can the UK Data Keep It There?
Last week was relatively uneventful by 2026 standards, but that did not stop Sterling from continuing its recent recovery.
By Prem Raja · 5 min read
US Dollar9 Aug 2026
The Dollar Just Got a Warning
US jobs turn negative, inflation takes centre stage and Sterling faces a major test this week.
By Prem Raja · 6 min read
Macro2 Aug 2026
Markets Caught Between Central Banks and Geopolitics
For much of this year, investors have been trying to answer one question: have central banks finished tightening monetary policy?
By Prem Raja · 6 min read
Macro26 Jul 2026
When Bad News Becomes Good News for Markets
For the past several weeks, financial markets have been driven less by economic data and more by developments in the Middle East.
By Prem Raja · 5 min read
Macro19 Jul 2026
Markets Face a New Political Reality
Markets begin the week digesting two major political developments that are likely to influence sentiment over the coming days.
By Prem Raja · 5 min read
Pound Sterling12 Jul 2026
Geopolitics Returns, But Sterling Is Quietly Building Momentum
For much of the past month, markets had begun to price in the idea that the worst of the U.S.–Iran conflict might be behind us.
By Prem Raja · 4 min read
Macro28 Jun 2026
The Ceasefire Is Cracking... And Markets Are Starting to Notice
Renewed attacks in the Strait of Hormuz, quarter-end flows and Thursday's US jobs report set the stage for another volatile week across global currency markets.
By Prem Raja · 5 min read
Macro21 Jun 2026
Politics, Peace Talks and PCE: A Headline-Driven Week for Markets
Fragile Diplomacy in the Middle East and Political Turmoil in Westminster Set the Tone for the Week Ahead
By Prem Raja · 5 min read
Euro14 Jun 2026
ECB Turns Hawkish as Markets Await Iran Breakthrough and Key Central Bank Decisions
The ECB turns increasingly hawkish, the Fed and BoE face difficult decisions, and markets continue to wait for a breakthrough in U.S.–Iran negotiations.
By Prem Raja · 5 min read
US Dollar7 Jun 2026
Stronger Dollar Returns as Markets Reprice Rate Expectations
Last week brought a significant shift in market sentiment, particularly for the US Dollar.
By Prem Raja · 4 min read
Macro24 May 2026
Markets Caught Between Diplomacy and Escalation
Markets head into the new week with geopolitics once again dominating sentiment, as negotiations between the U.S.
By Prem Raja · 5 min read
Pound Sterling17 May 2026
Sterling Faces a Political and Economic Stress Test
Labour turmoil, rising inflation concerns and escalating Middle East tensions leave GBP increasingly vulnerable as markets enter a highly headline-driven week.
By Prem Raja · 5 min read
Pound Sterling10 May 2026
Politics, Geopolitics and Inflation: Markets Enter a More Fragile Phase
Labour’s heavy election losses, fragile U.S.–Iran diplomacy and rising inflation pressures leave GBP, EUR and USD facing another week of political and macro-driven volatility.
By Prem Raja · 5 min read
US Dollar3 May 2026
Sterling Rises, Dollar Slips… But This Week Could Change Everything
NFP, UK elections and central bank signals collide as markets shift back to data, with volatility still just one headline away
By Prem Raja · 4 min read
Macro26 Apr 2026
Geopolitics, Central Banks and Big Tech: Markets Face a Perfect Storm
U.S.–Iran tensions, five central bank decisions and major tech earnings collide, leaving FX markets highly sensitive to both headlines and policy signals.
By Prem Raja · 4 min read
Macro19 Apr 2026
Markets Face Binary Risk as Strait of Hormuz Closes Again
Over the weekend, the U.S.–Iran conflict shifted back toward confrontation, with the Strait of Hormuz once again becoming the focal point.
By Prem Raja · 4 min read
Macro12 Apr 2026
Markets Still Caught Between Headlines and Hope
Last week was another clear reminder that, for now, geopolitics is firmly in the driving seat.
By Prem Raja · 3 min read
Pound Sterling12 Apr 2026
Markets Still Caught Between Headlines and Hope
Last week was another clear reminder that, for now, geopolitics is firmly in the driving seat. Early in the week, markets reacted positively to news that Donald Trump would enter negotiations with…
By Prem Raja · 3 min read
Macro5 Apr 2026
Headline Risk Isn’t Going Away… And Markets Know It
Thin liquidity, rising inflation and ongoing U.S.–Iran tensions leave currencies vulnerable to sharp, unpredictable moves.
By Prem Raja · 4 min read
Pound Sterling5 Apr 2026
Headline Risk Dominates Again as Markets Navigate Thin Liquidity
Last week was another eventful one for markets, with the ongoing situation between the U.S. and Iran continuing to dominate sentiment. Over the weekend, President Trump struck a slightly confusing…
By Prem Raja · 4 min read
Macro29 Mar 2026
Markets Navigate Geopolitics, Inflation Risks and Quarter-End Positioning
Last week felt slightly different from the pattern we’ve seen recently.
By Prem Raja · 5 min read
Pound Sterling29 Mar 2026
Markets Navigate Geopolitics, Inflation Risks and Quarter-End Positioning
Last week felt slightly different from the pattern we’ve seen recently. While tensions between the U.S. and Iran remain elevated, President Trump held back from any further escalation, instead…
By Prem Raja · 5 min read
Macro22 Mar 2026
Strikes, Oil and Uncertainty: Why Markets Are Bracing for Volatility
Escalating tensions in the Middle East shift focus away from data, leaving currencies at the mercy of headlines.
By Prem Raja · 3 min read
Buckets: Pound Sterling, Euro, US Dollar, Emerging Markets, G10 & Commodities, Macro