Top Currency Pairs Monday 4th September 04:00 UTC GBP/USD: 1.26030 (Last Week: 1.26284) EUR/USD: 1.07859 (Last Week: 1.08369) GBP/EUR: 1.16848 (Last Week: 1.16532) Market News
Pound Sterling The British Pound remains resilient in the face of faltering economic data. In fact, as wage growth and core inflation remain bugbears for the Bank of England, bets on two further BoE rate hikes have subsided. Nevertheless, a final 25-basis point rate hike is still on the table. Looking forward, BoE Governor Andrew Bailey will attend the Joint Treasury Select Committee Hearing on Wednesday, which could give the markets a sense of BoE policy intentions.
Euro The Euro has recently been consolidating its moves, holding ground even as German exports fell 0.9% on the month in July as global demand continues to falter. Looking forward, ECB President Christine Lagarde is scheduled to speak later in the session, and her comments will be studied carefully for clues ahead of this month’s policy-setting meeting.
U.S. Dollar The U.S. dollar edged lower in early European trade this morning, in thin holiday-affected volumes as investors continue to digest last week’s mixed U.S. jobs report and the possible impact on thinking at the Federal Reserve ahead of this month’s policy-setting meeting. Nevertheless, the Dollar Index was last seen trading at 104.08, remaining close to last week’s two-month peak of 104.44.
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