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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • There was a cautious tone to investor sentiment yesterday …
  • Overall, the market action was muted amid a limited macro calendar …
  • Currency-wise, the main pairs have operated in tight ranges over the past 24 hours …
  • Of the sparse moves to note, sterling has been under some slight downward pressure …
  • This sees EUR/GBP open today up at the midpoint of the 86-87p corridor …
  • Elsewhere, GBP/USD is at the halfway mark of the $1.34-1.35 trading band …
  • EUR/USD remains in the lower half of $1.16-1.17 …
  • Today, the flash PMIs for August in the Eurozone, UK and US are due …
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1633    -0.01 12.36
EUR/GBP 0.8648     0.19  4.53
GBP/USD 1.3449    -0.17  7.50
GBP/EUR 1.156    -0.19 -4.34
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
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.
 
 
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.