• The action on currency markets continued to generate headlines last week.....
• The dollar index (a measure of the currency’s value versus a number of peers) broke above 108 for the first time since 2002....
• Therefore, this week’s ECB meeting encapsulates some key event risk for the euro....
• Current pricing suggests the market is not ruling out a larger rate hike of 50bps....
• In terms of data releases this week, the flash PMI readings for July in the US, Eurozone and UK will feature....
• Consumer confidence, which is at an all-time low in the UK, is also due....

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