Good Morning ,
Today's overview of economic news and market action:
- As expected, the Fed cut rates by 25bps yesterday …
- However, the decision was not unanimous …
- Furthermore, Chair Powell struck a hawkish tone at the press conference …
- Against this backdrop, US market rate expectations firmed somewhat …
- Currency-wise, the dollar edged higher overnight …
- Elsewhere, sterling remained on the defensive …
- As trading gets underway today, EUR/GBP is at 88p and GBP/USD is at $1.32 …
- EUR/USD is in the lower half of $1.16-1.17 …
- Today, the ECB is expected to leave policy on hold …
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