Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Fed left policy on hold yesterday as expected …
  • However, two officials dissented, in favour of cutting rates by 25bps …
  • Despite this, Chair Powell struck a hawkish tone at the press conference …
  • Against this backdrop US rate expectations and the dollar firmed …
  • This sees EUR/USD open today back at the midpoint of $1.14-1.15 …
  • GBP/USD is trading below the $1.33 mark …
  • EUR/GBP remains in the lower half of 86-87p …
  • Today, SU core-PCE inflation (June) is due …
 
Continue Reading
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1453   -0.84 10.62
EUR/GBP 0.8626    -0.28  4.27
GBP/USD 1.3275   -0.55  6.11
GBP/EUR 1.159    0.28 -4.09
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
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