Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Generally confined trading for most of FX majors last week
  • Sterling opens this morning marginally firmer compared to last Monday’s open
  • EUR/GBP is in the lower half of 86-87p, GBP/USD is at the midpoint of $1.35-1.36
  • Elsewhere, EUR/USD is operating in and around the $1.17 threshold
  • Ahead this week, data-wise, the flash PMIs are one of the main highlights
  • Fed Chair Powell’s speech on Friday will be a key focus for markets
 
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Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1701    0.33 13.02
EUR/GBP 0.8632    0.29  4.34
GBP/USD 1.3551    0.03  8.31
GBP/EUR 1.158   -0.29 -4.16
*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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