Dear Reader,
Today's overview of economic news and market action:
- There was a mixed mood on markets yesterday, amid some contrasting data …
- The bellwether German Ifo business sentiment indicator rose to its highest level since July …
- Meanwhile, US consumer confidence plunged to its lowest level since January 2021 …
- Currency-wise, the main pairs have operated in quite narrow ranges over the past 24 hours …
- The dollar moved lower during the Europeans session but recouped its losses overnight …
- EUR/USD is just below $1.08, GBP/USD is in the lower half of $1.29-1.30 …
- EUR/GBP is near the midpoint of 83-84p …
- Later today, the UK Chancellor’s spring statement will warrant attention …
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Today's Opening FX Rates
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% Change Day* |
End 2024 |
| EUR/USD |
1.0788 |
|
-0.13 |
4.20 |
| EUR/GBP |
0.8345 |
|
-0.17 |
0.87 |
| GBP/USD |
1.2924 |
|
0.01 |
3.30 |
| GBP/EUR |
1.1978 |
|
0.17 |
-0.86 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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Bank of England Watch - March 2025
The March policy setting meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank leave the Bank rate unchanged at 4.50%. Today’s decision was very much in-line with market expectations.
US Fed Watch - March 2025
The March meeting of the US Federal Reserve Open Market Committee (FOMC) saw the central bank leave policy on hold. The target range for the Fed funds rate was maintained at 4.25-4.50%.
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