Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Generally positive tone to investor sentiment yesterday
  • Currency-wise, dollar remained on the defensive
  • Amid further softening in US rate expectations
  • This morning’s UK Q2 GDP has printed better than forecast
  • Provided some support to sterling
  • EUR/USD up near $1.17, GBP/USD in the top of $1.35-1.36, EUR/GBP nearer to 86p
 
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Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1699    0.13 13.00
EUR/GBP 0.8616    -0.39  4.15
GBP/USD 1.3575    0.53  8.50
GBP/EUR 1.1602    0.39 -3.98
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
More Economic News
 
Bank of England Watch August 2025
 
 

The Bank of England's Monetary Policy Committee (MPC) meeting for August saw the central bank cut the Bank Rate by 25bps to 4.00%. This represented the third 25bps rate reduction from the BoE this year, having previously cut in February and May.
 
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ECB Watch July 2025
 
 

The July ECB Governing Council meeting saw the central bank leave interest rates on hold. The deposit and refi rates were maintained at 2.00% and 2.15%, respectively. This was the first ECB meeting of 2025 where the central bank refrained from lowering rates. However, this outcome was very much in line with market expectations.

 
 
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