Sterling fell 0.10% to $1.3375 and the euro slipped 0.21% to $1.1193 on Friday as a global equity sell-off driven by higher oil prices and AI concerns hit risk appetite. According to ING strategist Francesco Pesole, the dollar is not the preferred safe haven, with the yen and Swiss franc the main beneficiaries of the defensive rotation, and the negative correlation between bonds and equities is reasserting itself. Ten-year Treasury yields fell back below 5.0% for the first time in a month, and the two-year SOFR swap rate dropped 15 basis points to 4.50%. UK retail sales volumes fell 0.4% month-on-month in September, against a forecast 0.1% decline, and annual growth slowed to 0.8% from 2.7%. ING sees EUR/USD quickly re-testing the 1.1120 October 14 low if bond turmoil persists, with the OAT-Bund 10-year spread closing at 174 basis points.
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Related tickers and likely impact
GBP/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/22/2026 | 1.34003 |
| Change that session | +0.04% |
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/22/2026 | 101.62 |
| Change that session | -0.07% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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