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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Investor sentiment soured yesterday, with equity markets falling on both sides of the Atlantic …
  • On the currency front, the main pairs continued to operate in narrow ranges yesterday …
  • Of the limited action to note, the dollar was holding a slightly firmer tone …
  • This sees EUR/USD open this morning back nearer the midpoint of the $1.07-1.08 corridor …
  • EUR/GBP remains in the lower half of the 83-84p range …
  • GBP/USD is changing hands just above the $1.29 threshold …
  • Turning to the day ahead, the macro calendar is somewhat light …
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.0763   -0.20 3.96
EUR/GBP 0.8335   -0.04 0.75
GBP/USD 1.2908   -0.17 3.17
GBP/EUR 1.1992   0.04 -0.74
*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%.