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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • The risk averse mood on markets remained in place yesterday …
  • Currency-wise, the dollar started the European session in the ascendancy …
  • However, the greenback lost momentum as the day progressed …
  • This morning, EUR/USD is operating just below $1.08 …
  • GBP/USD is up at the midpoint of $1.29-1.30 …
  • EUR/GBP remains in the lower half of the 83-84p range ...
  • The main highlight today will be US core-PCE inflation for February …
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.0789   0.20 4.21
EUR/GBP 0.8327   -0.13 0.65
GBP/USD 1.2952   0.33 3.52
GBP/EUR 1.2004   0.13 -0.65
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
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%.