top of page
Search

23rd October

Top Currency Pairs Monday 23rd October 04:00 UTC GBP/USD: 1.21493 (Last Week: 1.21555) EUR/USD: 1.05760 (Last Week: 1.05238) GBP/EUR: 1.14876 (Last Week: 1.15504) Market News

Pound Sterling The British Pound fell to its lowest levels in five months against the Euro last week, and unless UK PMI figures burn bright relative to those of the Eurozone, the odds of any meaningful rebound remain limited. Nevertheless, although the British Pound found itself under pressure following the release of a tranche of domestic figures that pointed to a slowing economy, the currency could find redemption should this week's PMI figures beat expectations.


Euro The Euro was relatively flat this morning, following last week’s mixed trading patterns, as investors wait for the ECB’s latest policy decision on Thursday. The market is poised for Frankfurt to leave rates unchanged in view of both softening economic activity and inflation. This would not be a surprise to the market and won't impact Euro exchange rates; instead, it falls to the guidance issued by ECB President Christine Lagarde and the Governing Council to move the market.


U.S. Dollar Geopolitical tensions continue to hang over international markets and have thus renewed investor interest in the safe-haven U.S. Dollar. Elsewhere, as the FOMC enters its blackout period, Fed Chair Jerome Powell and many Fed officials signalled that interest rates would be held steady at its November meeting. In fact, they signalled a desire to pause rate hikes and watch how economic data develops in the coming months.


If you require alternative currency pair updates, please get in touch and we can arrange for a personalised weekly newsletter. For other FX enquiries, or to book a demo, please call us on 020 3908 4662, or email us at info@goxchange.co.uk Disclaimer: This is not investment advice; it is for informational purposes only.



Comments


bottom of page