Good Morning ,

Here’s a quick look at today’s economic news and market activity:

• As expected, the Fed opted to leave the Fed Funds target range at 3.50-3.75% yesterday …
• However, three officials voted in favour of hiking rates by 25bps …
• Regardless, US market rate expectations softened slightly in the aftermath of the meeting …
• This weighed marginally on the dollar overnight …
• As trading gets underway this morning , EUR/USD opens near the midpoint of $1.14-1.15 …
• GBP/USD is north of the $1.33 threshold …
• EUR/GBP is changing hands in the top half of the 85-86p band …
• Today the BoE is widely expected to leave rates unchanged also …
• The first reading of Eurozone & US GDP for Q2 will be released today. US core-PCE inflation (June) will also feature …

All rates quoted are indicative market rates.