The Bank of Canada is gearing up for a series of interest rate cuts starting in September, driven by signs of a cooling economy and declining inflation.
The Bank of Canada is gearing up for a series of interest rate cuts starting in September, driven by signs of a cooling economy and declining inflation.
European Central Bank policymakers are increasingly at odds on the outlook for growth, a rift that could shape the rate cut debate for months with some fearing a recession and others focusing on lingering inflation pressures, sources close to the debate said.
European Central Bank policymakers are increasingly at odds on the outlook for growth, a rift that could shape the rate cut debate for months with some fearing a recession and others focusing on lingering inflation pressures, sources close to the debate said.
The dollar hovered close to a two-week high on Tuesday as investors geared up for a slew of economic data, including Friday's U.S. payrolls, that could influence the size of an expected interest rate cut from the Federal Reserve.
The dollar hovered close to a two-week high on Tuesday as investors geared up for a slew of economic data, including Friday's U.S. payrolls, that could influence the size of an expected interest rate cut from the Federal Reserve.
The South African rand was weaker in early trade on Tuesday, ahead of the release of second quarter gross domestic product (GDP) data.
The South African rand was weaker in early trade on Tuesday, ahead of the release of second quarter gross domestic product (GDP) data.
The Indian rupee declined on Tuesday, tracking weak Asian peers, but the central bank's repeated intervention at current levels in the recent past meant that the losses were fairly limited.
The Indian rupee declined on Tuesday, tracking weak Asian peers, but the central bank's repeated intervention at current levels in the recent past meant that the losses were fairly limited.
The U.S. dollar has recently fallen to the lowest level this year on raised expectations that the Federal Reserve will shortly start cutting interest rates, and UBS sees further losses ahead.
The U.S. dollar has recently fallen to the lowest level this year on raised expectations that the Federal Reserve will shortly start cutting interest rates, and UBS sees further losses ahead.
The pound sterling extend its losses against the greenback following the release of U.S PCE Price Index data which reduce expectation of Fed rate cut bets.
The pound sterling extend its losses against the greenback following the release of U.S PCE Price Index data which reduce expectation of Fed rate cut bets.
The dollar edged down on Monday but remained within striking distance of its highest level in almost two weeks, as investors' focus moved to a U.S. jobs report due at the end of this week.
The dollar edged down on Monday but remained within striking distance of its highest level in almost two weeks, as investors' focus moved to a U.S. jobs report due at the end of this week.
The euro fell versus the dollar after German inflation data led investors to increase their bets on the European Central Bank interest rate easing cycle.
The euro fell versus the dollar after German inflation data led investors to increase their bets on the European Central Bank interest rate easing cycle.
The New Zealand dollar made solid gains on Thursday in the wake of an upbeat business outlook survey, while the U.S. dollar failed to sustain its bounce in the run up to a key U.S. inflation reading at the end of the week.
The New Zealand dollar made solid gains on Thursday in the wake of an upbeat business outlook survey, while the U.S. dollar failed to sustain its bounce in the run up to a key U.S. inflation reading at the end of the week.
The Pound edged higher on Thursday following robust British GDP data, while the euro remained close to over seven-month highs vs US Dollar. This strength was supported by data indicating slowing U.S. inflation, which bolstered expectations of a Federal Reserve rate cut next month.
The Pound edged higher on Thursday following robust British GDP data, while the euro remained close to over seven-month highs vs US Dollar. This strength was supported by data indicating slowing U.S. inflation, which bolstered expectations of a Federal Reserve rate cut next month.
UK inflation edged up slightly less than expected to 2.2% in July, marking the first increase this year after aligning with the Bank of England's target rate in the previous two months.
UK inflation edged up slightly less than expected to 2.2% in July, marking the first increase this year after aligning with the Bank of England's target rate in the previous two months.
The UK's unemployment rate has slightly decreased, according to official figures. Unemployment stood at 4.2% in the three months ending in June, down from 4.4% in the previous quarter.
The UK's unemployment rate has slightly decreased, according to official figures. Unemployment stood at 4.2% in the three months ending in June, down from 4.4% in the previous quarter.
Catherine Mann, a member of the Bank of England's Monetary Policy Committee, has warned that wage pressures in the UK economy could take years to ease.
Catherine Mann, a member of the Bank of England's Monetary Policy Committee, has warned that wage pressures in the UK economy could take years to ease.
The British pound edged up on Thursday, staying close to this week's one-month lows against the dollar, as markets found some stability after a highly choppy start to the week.
The British pound edged up on Thursday, staying close to this week's one-month lows against the dollar, as markets found some stability after a highly choppy start to the week.
The week began with a sharp sell-off in the US Dollar, following a slew of economic data last week that raised the prospect of a U.S. economic downturn and larger interest rate cuts from the Federal Reserve.
The week began with a sharp sell-off in the US Dollar, following a slew of economic data last week that raised the prospect of a U.S. economic downturn and larger interest rate cuts from the Federal Reserve.
The US Dollar has been affected by additional signs of a weakening US economy, and media discussions about a potential recession are expected to intensify following the US jobs data.
The US Dollar has been affected by additional signs of a weakening US economy, and media discussions about a potential recession are expected to intensify following the US jobs data.
The Euro faced pressure on Monday due to its strong negative correlation with a rising US Dollar and caution from EUR investors ahead of upcoming high-impact Eurozone data.
The Euro faced pressure on Monday due to its strong negative correlation with a rising US Dollar and caution from EUR investors ahead of upcoming high-impact Eurozone data.
The Pound stumbled at the start of the week due to rumors that Chancellor Rachel Reeves would announce tax hikes to address a £22bn shortfall in public finances left by the previous government.
The Pound stumbled at the start of the week due to rumors that Chancellor Rachel Reeves would announce tax hikes to address a £22bn shortfall in public finances left by the previous government.
The Bank of England's Monetary Policy Committee is set to announce its latest interest rate decision on at 12pm (GMT) today.
The Bank of England's Monetary Policy Committee is set to announce its latest interest rate decision on at 12pm (GMT) today.
The yen fluctuated on Wednesday after the Bank of Japan concluded its two-day monetary policy meeting by raising interest rates and unveiling a detailed plan to taper its extensive bond-buying program.
The yen fluctuated on Wednesday after the Bank of Japan concluded its two-day monetary policy meeting by raising interest rates and unveiling a detailed plan to taper its extensive bond-buying program.
The British Pound faced increased pressure on Monday, and significant events scheduled for this week are expected to cause high volatility in Sterling currency exchange markets.
The British Pound faced increased pressure on Monday, and significant events scheduled for this week are expected to cause high volatility in Sterling currency exchange markets.
Wells Fargo has updated its currency market forecast, predicting a more gradual depreciation of the U.S. dollar over the medium term than previously anticipated. The bank now expects a moderate decline in the dollar's value through much of 2025.
Wells Fargo has updated its currency market forecast, predicting a more gradual depreciation of the U.S. dollar over the medium term than previously anticipated. The bank now expects a moderate decline in the dollar's value through much of 2025.
According to a closely monitored business survey, the Eurozone economy has significantly slowed due to weaker-than-expected growth in services and more pronounced declines in manufacturing.
According to a closely monitored business survey, the Eurozone economy has significantly slowed due to weaker-than-expected growth in services and more pronounced declines in manufacturing.
Key US banks are wagering that Sterling will continue its winning streak, which has brought it to its strongest level since the 2016 EU referendum. They point to a resilient economy and hopes for political stability as factors likely to support the currency.
Key US banks are wagering that Sterling will continue its winning streak, which has brought it to its strongest level since the 2016 EU referendum. They point to a resilient economy and hopes for political stability as factors likely to support the currency.
The Euro started the week largely flat against its peers, as disappointing Eurozone data left the currency struggling to gain support.
The Euro started the week largely flat against its peers, as disappointing Eurozone data left the currency struggling to gain support.
The Pound began the week on a subdued note against most of its counterparts due to a lack of UK data releases.
The Pound began the week on a subdued note against most of its counterparts due to a lack of UK data releases.
UK wage growth slowed but remained robust in the three months leading up to May, fueling uncertainty about the speed at which the Bank of England will reduce interest rates.
UK wage growth slowed but remained robust in the three months leading up to May, fueling uncertainty about the speed at which the Bank of England will reduce interest rates.
On Tuesday, the dollar slightly recovered from its five-week lows as investors assessed the likelihood of a September rate cut following comments from Fed Chair Jerome Powell and considered the increasing chances of former U.S. President Donald Trump being re-elected.
On Tuesday, the dollar slightly recovered from its five-week lows as investors assessed the likelihood of a September rate cut following comments from Fed Chair Jerome Powell and considered the increasing chances of former U.S. President Donald Trump being re-elected.
On Friday, the Australian dollar remained close to six-month highs as markets increasingly bet on US rate cuts. Meanwhile, market activity was heavily influenced by dramatic fluctuations in the Japanese yen. The yen surged against the US dollar following an unexpectedly low US inflation report, fueling speculation about potential government intervention.
On Friday, the Australian dollar remained close to six-month highs as markets increasingly bet on US rate cuts. Meanwhile, market activity was heavily influenced by dramatic fluctuations in the Japanese yen. The yen surged against the US dollar following an unexpectedly low US inflation report, fueling speculation about potential government intervention.
The UK economy grew by 0.4% in May, twice the expected figure, fueled by ongoing expansion in the services sector and a rebound in housebuilding.
The UK economy grew by 0.4% in May, twice the expected figure, fueled by ongoing expansion in the services sector and a rebound in housebuilding.
Federal Reserve Chair Jerome Powell, in his testimony to Congress on Tuesday, highlighted the dual challenges of a cooling job market and persistently high prices.
Federal Reserve Chair Jerome Powell, in his testimony to Congress on Tuesday, highlighted the dual challenges of a cooling job market and persistently high prices.
Fabio Panetta, a governing council member of the European Central Bank, stated that the ECB can continue to gradually reduce interest rates without jeopardizing the current decline in inflation.
Fabio Panetta, a governing council member of the European Central Bank, stated that the ECB can continue to gradually reduce interest rates without jeopardizing the current decline in inflation.
The US Dollar saw fluctuations at the beginning of last week, initially gaining support as a safe-haven currency amidst a cautious market sentiment. USD exchange rates subsequently started to decline following remarks from Federal Reserve Chair Jerome Powell.
The US Dollar saw fluctuations at the beginning of last week, initially gaining support as a safe-haven currency amidst a cautious market sentiment. USD exchange rates subsequently started to decline following remarks from Federal Reserve Chair Jerome Powell.
The Euro started the week by reaching multi-week highs against most G10 currencies after the first round of the French election showed less support for the far-right National Rally than some polls had predicted.
The Euro started the week by reaching multi-week highs against most G10 currencies after the first round of the French election showed less support for the far-right National Rally than some polls had predicted.
The Pound started the week unsteady against its peers due to a lackluster manufacturing PMI index. However, the currency's losses were contained as the index continued to expand.
The Pound started the week unsteady against its peers due to a lackluster manufacturing PMI index. However, the currency's losses were contained as the index continued to expand.
The US Dollar declined yesterday after Federal Reserve Chair Jerome Powell adopted a moderately dovish tone in his comments, indicating that the U.S. central bank is likely to begin its easing cycle later this year.
The US Dollar declined yesterday after Federal Reserve Chair Jerome Powell adopted a moderately dovish tone in his comments, indicating that the U.S. central bank is likely to begin its easing cycle later this year.
The US Dollar index has surged recently as the likelihood of a second Donald Trump presidency has increased. This boost follows President Joe Biden's weak debate performance last week and the Supreme Court's ruling on Monday, which granted Trump some immunity from prosecution regarding his attempts to overturn the 2020 election results.
The US Dollar index has surged recently as the likelihood of a second Donald Trump presidency has increased. This boost follows President Joe Biden's weak debate performance last week and the Supreme Court's ruling on Monday, which granted Trump some immunity from prosecution regarding his attempts to overturn the 2020 election results.
The Dollar started the week weakening against its counterparts due to a sparse data calendar, leaving the currency susceptible to profit-taking following its rally at the end of the previous week.
The Dollar started the week weakening against its counterparts due to a sparse data calendar, leaving the currency susceptible to profit-taking following its rally at the end of the previous week.
The Euro began the week struggling for support after the release of Germany's latest Ifo business climate survey.
The Euro began the week struggling for support after the release of Germany's latest Ifo business climate survey.
The Pound started the week flat against other currencies, despite the Confederation of British Industry's latest industrial trends survey surpassing expectations. On Wednesday, however, the Pound came under pressure following the release of the CBI's latest distributive trades survey.
The Pound started the week flat against other currencies, despite the Confederation of British Industry's latest industrial trends survey surpassing expectations. On Wednesday, however, the Pound came under pressure following the release of the CBI's latest distributive trades survey.
The US dollar is wavering near yesterday’s multi-week highs this morning, though it appears largely subdued due to a lack of fresh economic releases.
The US dollar is wavering near yesterday’s multi-week highs this morning, though it appears largely subdued due to a lack of fresh economic releases.
The US Dollar picked up on Tuesday as a result of weakness on Wall Street, despite gains being tempered as anticipation builds ahead of US inflation data set to be released on Friday.
The US Dollar picked up on Tuesday as a result of weakness on Wall Street, despite gains being tempered as anticipation builds ahead of US inflation data set to be released on Friday.
The US Dollar started the week without a clear direction, as there was a scarcity of domestic macroeconomic data. On Tuesday, the US Dollar remained under pressure following the release of the latest retail sales data from the US.
The US Dollar started the week without a clear direction, as there was a scarcity of domestic macroeconomic data. On Tuesday, the US Dollar remained under pressure following the release of the latest retail sales data from the US.
The Euro jumped up at the start of the week following recent remarks from European Central Bank Chief Economist Philip Lane. Although markets had speculated about an aggressive monetary unwinding cycle from the central bank in recent months, Lane emphasized that the ECB might refrain from lowering interest rates again in the near future, providing some support for the Euro as investors reduced their expectations of ECB interest rate cuts. However, ongoing political uncertainty following France’s announcement of a snap election limited the Euro's upward potential.
The Euro jumped up at the start of the week following recent remarks from European Central Bank Chief Economist Philip Lane. Although markets had speculated about an aggressive monetary unwinding cycle from the central bank in recent months, Lane emphasized that the ECB might refrain from lowering interest rates again in the near future, providing some support for the Euro as investors reduced their expectations of ECB interest rate cuts. However, ongoing political uncertainty following France’s announcement of a snap election limited the Euro's upward potential.
The Pound showed no clear trend throughout Monday's session due to the absence of new economic data from the UK. Consequently, the risk-sensitive Pound remained largely exposed to global risk dynamics, with fluctuating market sentiment providing little support for GBP.
The Pound showed no clear trend throughout Monday's session due to the absence of new economic data from the UK. Consequently, the risk-sensitive Pound remained largely exposed to global risk dynamics, with fluctuating market sentiment providing little support for GBP.
Inflation in the UK has reached its 2% target for the first time in three years.
Inflation in the UK has reached its 2% target for the first time in three years.
The Dollar rose slightly on Tuesday as currency markets anticipated a crucial U.S. retail sales report and awaited comments from Federal Reserve officials to gain insight into the timing and pace of potential interest rate cuts.
The Dollar rose slightly on Tuesday as currency markets anticipated a crucial U.S. retail sales report and awaited comments from Federal Reserve officials to gain insight into the timing and pace of potential interest rate cuts.
The US Dollar began the week trading within a narrow range, lacking significant data to guide its direction.
The US Dollar began the week trading within a narrow range, lacking significant data to guide its direction.
The Euro started Monday’s session on a gloomy note, with political uncertainty exerting downward pressure on the common currency.
The Euro started Monday’s session on a gloomy note, with political uncertainty exerting downward pressure on the common currency.
Sterling began the week sluggishly, with a lack of UK economic data leaving the currency without direction.
Sterling began the week sluggishly, with a lack of UK economic data leaving the currency without direction.
US Federal Reserve officials have indicated that they anticipate cutting interest rates only once this year, maintaining a hawkish stance on inflation as they keep borrowing costs at a 23-year high.
US Federal Reserve officials have indicated that they anticipate cutting interest rates only once this year, maintaining a hawkish stance on inflation as they keep borrowing costs at a 23-year high.
The UK economy stagnated in April as wet weather was blamed for dampening consumer spending. The Office for National Statistics reported zero growth for the month, aligning with economists' expectations.
The UK economy stagnated in April as wet weather was blamed for dampening consumer spending. The Office for National Statistics reported zero growth for the month, aligning with economists' expectations.
Sterling dropped against the Euro and Dollar in the aftermath of the UK's latest employment figures, which showed job losses and rising unemployment. However, losses are expected to be limited by still-high wage increases and the anticipated importance of next week's inflation report.
Sterling dropped against the Euro and Dollar in the aftermath of the UK's latest employment figures, which showed job losses and rising unemployment. However, losses are expected to be limited by still-high wage increases and the anticipated importance of next week's inflation report.
Last week, the US dollar began with struggles against its counterparts after a disappointing ISM manufacturing PMI. The May index, at 48.7, signaled an intensified contraction in US factory activity.
Last week, the US dollar began with struggles against its counterparts after a disappointing ISM manufacturing PMI. The May index, at 48.7, signaled an intensified contraction in US factory activity.
The Euro had a rough beginning last week, spurred by the release of the Eurozone's most recent manufacturing PMI.
The Euro had a rough beginning last week, spurred by the release of the Eurozone's most recent manufacturing PMI.
The Pound strengthened initially this week, buoyed by confirmation that growth in the UK’s manufacturing sector reached a two-year high last month.
The Pound strengthened initially this week, buoyed by confirmation that growth in the UK’s manufacturing sector reached a two-year high last month.
The Euro took a steep drop to start the week as French President Emmanuel Macron announced a snap election in response to the shock European Parliament election results. The US Dollar remained stable in anticipation of the Federal Reserve's meeting later this week.
The Euro took a steep drop to start the week as French President Emmanuel Macron announced a snap election in response to the shock European Parliament election results. The US Dollar remained stable in anticipation of the Federal Reserve's meeting later this week.
As expected, the ECB cut rates by 25bps in Thursday’s meeting, a move that had been anticipated for several months and was fully priced in. Following the decision, the euro remained steady and even experienced a slight rally against the pound and the US dollar.
As expected, the ECB cut rates by 25bps in Thursday’s meeting, a move that had been anticipated for several months and was fully priced in. Following the decision, the euro remained steady and even experienced a slight rally against the pound and the US dollar.
The Euro traded quietly on Wednesday as markets looked towards the European Central Bank's upcoming interest rate decision.
The Euro traded quietly on Wednesday as markets looked towards the European Central Bank's upcoming interest rate decision.
The dollar edged higher on Tuesday after dropping to its lowest levels against the Euro and Sterling since mid-March overnight. This decline was driven by indications of a weakening U.S. economy, which strengthened the argument for the Federal Reserve to cut interest rates sooner.
The dollar edged higher on Tuesday after dropping to its lowest levels against the Euro and Sterling since mid-March overnight. This decline was driven by indications of a weakening U.S. economy, which strengthened the argument for the Federal Reserve to cut interest rates sooner.
GBP has rebounded after declining yesterday against USD due to rising US bond yields bolstering the Dollar.
GBP has rebounded after declining yesterday against USD due to rising US bond yields bolstering the Dollar.
South African Rand saw a drop this week as a result of early polls suggesting that the current governing party, the African National Congress, is on track to lose its majority. If the early polls are correct we will likely see weeks of uncertainty as the ANC will be forced to negotiate a coalition will smaller parties.
South African Rand saw a drop this week as a result of early polls suggesting that the current governing party, the African National Congress, is on track to lose its majority. If the early polls are correct we will likely see weeks of uncertainty as the ANC will be forced to negotiate a coalition will smaller parties.
UBS have published a report examining the repercussions of the Swiss National Bank's unexpected rate cut in March on currency markets.
UBS have published a report examining the repercussions of the Swiss National Bank's unexpected rate cut in March on currency markets.
The Pound surged to a two-month high against the US Dollar on Tuesday, while staying largely rangebound against its other major currencies.
The Pound surged to a two-month high against the US Dollar on Tuesday, while staying largely rangebound against its other major currencies.
Bank of America have pointed out several factors that could create movement for the US Dollar.
Bank of America have pointed out several factors that could create movement for the US Dollar.
The US Dollar gained ground on Monday following a stream of commentary from various Federal Reserve policymakers. Most of them expressed a hawkish stance, suggesting they were not eager to start reducing interest rates.
The US Dollar gained ground on Monday following a stream of commentary from various Federal Reserve policymakers. Most of them expressed a hawkish stance, suggesting they were not eager to start reducing interest rates.
The Euro started the week on a downward trend against its counterparts as European Central Bank policymaker Martins Kazaks supported a June interest rate cut, ultimately weighing on EUR.
The Euro started the week on a downward trend against its counterparts as European Central Bank policymaker Martins Kazaks supported a June interest rate cut, ultimately weighing on EUR.
The Pound started the week strong against its rivals, despite mixed remarks from Bank of England Deputy Governor Ben Broadbent.
The Pound started the week strong against its rivals, despite mixed remarks from Bank of England Deputy Governor Ben Broadbent.
The Pound experienced a dip following the release of the latest UK retail sales data but quickly rebounded, before settling back at levels pre data release.
The Pound experienced a dip following the release of the latest UK retail sales data but quickly rebounded, before settling back at levels pre data release.
Sterling edged up to multi-month highs following UK Prime Minister Rishi Sunak's surprise announcement of a general election on July 4th. The Pound also responded to figures showing that inflation did not slow as much as forecast in April.
Sterling edged up to multi-month highs following UK Prime Minister Rishi Sunak's surprise announcement of a general election on July 4th. The Pound also responded to figures showing that inflation did not slow as much as forecast in April.
The Pound remained rangebound on Monday, with the only notable news being comments from Bank of England's Deputy Governor Ben Broadbent, who again hinted that interest rate cuts could appear in the upcoming summer months.
The Pound remained rangebound on Monday, with the only notable news being comments from Bank of England's Deputy Governor Ben Broadbent, who again hinted that interest rate cuts could appear in the upcoming summer months.
As Monday's session commenced, the US Dollar declined, influenced by a growing appetite for risk, which diminished investor interest in the safe-haven currency. Additionally, a slight decrease in US Treasury Yields further weakened the 'greenback' throughout the latter part of the session.
As Monday's session commenced, the US Dollar declined, influenced by a growing appetite for risk, which diminished investor interest in the safe-haven currency. Additionally, a slight decrease in US Treasury Yields further weakened the 'greenback' throughout the latter part of the session.
The Euro began the week trading without a clear direction on Monday due to the absence of Eurozone data.
The Euro began the week trading without a clear direction on Monday due to the absence of Eurozone data.
Sterling risks a setback if midweek inflation falls below expectations. The Pound has shown a slight upward trend against its G10 peers in recent days, returning to the middle of the range observed thus far in 2024.
Sterling risks a setback if midweek inflation falls below expectations. The Pound has shown a slight upward trend against its G10 peers in recent days, returning to the middle of the range observed thus far in 2024.
UK wage growth remained robust in the three months to March, persisting despite a slowdown in the job market. This paints a mixed picture that will further underscore divergences at the Bank of England regarding the timing of interest rate cuts.
UK wage growth remained robust in the three months to March, persisting despite a slowdown in the job market. This paints a mixed picture that will further underscore divergences at the Bank of England regarding the timing of interest rate cuts.
On Tuesday, the dollar inched higher as traders awaited U.S. inflation data, while the yen remained close to a two-week low, prompting concerns about intervention.
On Tuesday, the dollar inched higher as traders awaited U.S. inflation data, while the yen remained close to a two-week low, prompting concerns about intervention.
The Euro started the week hesitantly against its counterparts after receiving mixed releases from the Eurozone's largest economy.
The Euro started the week hesitantly against its counterparts after receiving mixed releases from the Eurozone's largest economy.
The US Dollar commenced the week fluctuating against its counterparts due to a lack of domestic data releases, resulting in USD exchange rates struggling to capture investor attention.
The US Dollar commenced the week fluctuating against its counterparts due to a lack of domestic data releases, resulting in USD exchange rates struggling to capture investor attention.
The Pound started the week trading aimlessly, with a lack of UK data causing investors to refrain from making bold moves ahead of the Bank of England's upcoming interest rate decision.
The Pound started the week trading aimlessly, with a lack of UK data causing investors to refrain from making bold moves ahead of the Bank of England's upcoming interest rate decision.
Sterling dipped against the dollar on Thursday ahead of a Bank of England policy meeting, with the central bank anticipated to maintain rates unchanged but provide guidance on its intentions to reduce the cost of borrowing.
Sterling dipped against the dollar on Thursday ahead of a Bank of England policy meeting, with the central bank anticipated to maintain rates unchanged but provide guidance on its intentions to reduce the cost of borrowing.
Sweden's central bank lowered interest rates for the first time in eight years, aligning with European monetary policymakers in diverging from the US to bolster their economies, potentially at the cost of stronger currency rates.
Sweden's central bank lowered interest rates for the first time in eight years, aligning with European monetary policymakers in diverging from the US to bolster their economies, potentially at the cost of stronger currency rates.
Despite the absence of significant data releases, the Pound exchange rate dipped lower on Tuesday, ahead of the Bank of England's forthcoming interest rate decision.
Despite the absence of significant data releases, the Pound exchange rate dipped lower on Tuesday, ahead of the Bank of England's forthcoming interest rate decision.
The fluctuating Pound to Euro exchange rate this morning reflects uncertain Bank of England interest rate cut expectations and a blend of diverse industry data emerging from the Eurozone.
The fluctuating Pound to Euro exchange rate this morning reflects uncertain Bank of England interest rate cut expectations and a blend of diverse industry data emerging from the Eurozone.
The Pound started the week trading mostly unchanged against most of its counterparts after the release of the UK's latest jobs data on Tuesday, which revealed a surge in unemployment.
The Pound started the week trading mostly unchanged against most of its counterparts after the release of the UK's latest jobs data on Tuesday, which revealed a surge in unemployment.
The US Dollar began the week strengthening against most of its counterparts, driven by escalating tensions in the Middle East after reports emerged of a drone strike by Iran on Israel.
The US Dollar began the week strengthening against most of its counterparts, driven by escalating tensions in the Middle East after reports emerged of a drone strike by Iran on Israel.
The Pound kicked off last week with mixed trading dynamics, with Sterling closely tracking market sentiment due to a dearth of significant data releases. This flexibility enabled it to gain ground against its weaker counterparts.
The Pound kicked off last week with mixed trading dynamics, with Sterling closely tracking market sentiment due to a dearth of significant data releases. This flexibility enabled it to gain ground against its weaker counterparts.
The ECB has strongly hinted at a rate cut in June, and markets have nearly fully priced it in. However, it is probable that the Fed and BoE will delay their initial rate cuts, thereby leaving the ECB in a somewhat isolated position.
The ECB has strongly hinted at a rate cut in June, and markets have nearly fully priced it in. However, it is probable that the Fed and BoE will delay their initial rate cuts, thereby leaving the ECB in a somewhat isolated position.
UK inflation decelerated less than anticipated in March, sparking discussions about the timing of potential interest rate cuts by the Bank of England.
UK inflation decelerated less than anticipated in March, sparking discussions about the timing of potential interest rate cuts by the Bank of England.
On Tuesday, Sterling remained at a five-month low against the dollar following reports indicating that Britain's unemployment rate climbed higher than anticipated.
On Tuesday, Sterling remained at a five-month low against the dollar following reports indicating that Britain's unemployment rate climbed higher than anticipated.
The Pound grappled with uncertainty as the week commenced due to a dearth of UK economic updates. Concurrently, heightened risk appetite prompted the Pound, which is increasingly sensitive to risk, to fluctuate widely against other currencies. It weakened against riskier counterparts but strengthened against safe-haven currencies.
The Pound grappled with uncertainty as the week commenced due to a dearth of UK economic updates. Concurrently, heightened risk appetite prompted the Pound, which is increasingly sensitive to risk, to fluctuate widely against other currencies. It weakened against riskier counterparts but strengthened against safe-haven currencies.
On Thursday, the dollar remained strong following hotter-than-expected U.S. inflation data, which dispelled lingering expectations of the Fed initiating its rate-cutting cycle in June. Meanwhile, the yen lingered at levels not seen since the middle of 1990.
On Thursday, the dollar remained strong following hotter-than-expected U.S. inflation data, which dispelled lingering expectations of the Fed initiating its rate-cutting cycle in June. Meanwhile, the yen lingered at levels not seen since the middle of 1990.
Bank of England policymaker Megan Greene emphasized that interest rate cuts in Britain should stay a distance away due to the enduring inflation pressure, which poses a greater threat compared to the United States.
Bank of England policymaker Megan Greene emphasized that interest rate cuts in Britain should stay a distance away due to the enduring inflation pressure, which poses a greater threat compared to the United States.
On Tuesday, the dollar grappled with direction as investors exercised caution ahead of impending inflation data scheduled for Wednesday. Concurrently, U.S. Treasury yields surged after markets tempered their expectations for future Federal Reserve rate cuts.
On Tuesday, the dollar grappled with direction as investors exercised caution ahead of impending inflation data scheduled for Wednesday. Concurrently, U.S. Treasury yields surged after markets tempered their expectations for future Federal Reserve rate cuts.
The US Dollar kicked off the week on a robust note, reaching multi-month highs against most of its counterparts following the release of the latest ISM manufacturing PMI. The data surpassed forecasts and indicated a return to growth for the first time in 16 months.
The US Dollar kicked off the week on a robust note, reaching multi-month highs against most of its counterparts following the release of the latest ISM manufacturing PMI. The data surpassed forecasts and indicated a return to growth for the first time in 16 months.
With European markets closed on Monday for the Easter holidays, the Euro commenced the week on a subdued note.
With European markets closed on Monday for the Easter holidays, the Euro commenced the week on a subdued note.
After market closures on Monday for Easter observance, the Pound started to rise in Tuesday's session, buoyed by a final manufacturing PMI that surpassed expectations. March witnessed the sector's activity returning to growth for the first time since July 2022, bolstering GBP exchange rates.
After market closures on Monday for Easter observance, the Pound started to rise in Tuesday's session, buoyed by a final manufacturing PMI that surpassed expectations. March witnessed the sector's activity returning to growth for the first time since July 2022, bolstering GBP exchange rates.
On Thursday, sterling slightly strengthened against a weakening dollar but declined against the euro. Investors remained focused on the Bank of England's policy direction and the economic outlook.
On Thursday, sterling slightly strengthened against a weakening dollar but declined against the euro. Investors remained focused on the Bank of England's policy direction and the economic outlook.
