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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Last week saw the dollar experience further downside
  • Although, geopolitical concerns saw it regain some ground heading into the weekend
  • EUR/USD opens this morning at the midpoint of $1.15-1.16
  • Busy week ahead, with Middle East developments in focus
  • A number of key central bank meetings also scheduled (inc. Fed and BoE)
  • Data-wise, UK CPI, UK and US retail sales are some the main highlights
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1549   0.22 11.55
EUR/GBP 0.851   -0.06 2.86
GBP/USD 1.3568   0.27 8.45
GBP/EUR 1.1745    0.06 -2.78
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
ECB Watch:June 2025
 
 

The ECB's governing council meeting for June saw the central bank lower interest rates for a fourth consecutive time this year. It's once again reducing them by 25bps, With the deposit rate lowered to 2.00%., while the Re-fi rate was decreased to 2.15%. This Marked the eight 25bps rate cut since the ECB started its easing cycle in June 2024.