GBP: The British Pound dropped to a new ten-week low against the Dollar as markets prepare for a potential decline in the UK’s October PMI figures. Forecasts suggest a slight decrease in UK economic activity, with the Services PMI for October anticipated to dip to 52.2 from 52.4 in September. Additionally, investors will be monitoring several appearances by Bank of England officials.
EUR: The Euro continued to weaken amid rising expectations that the European Central Bank may adopt a more aggressive approach to cutting rates due to concerns over uncertain economic growth. Despite the ECB already reducing rates three times this year, markets anticipate further policy easing at each upcoming meeting into next year.
USD: The U.S. Dollar reached its highest level since early August, as solid economic data has diminished expectations for sharp interest rate cuts by the Federal Reserve. Additionally, the greenback has been bolstered by increasing expectations that Republican candidate Donald Trump could win the upcoming U.S. Presidential election, with his protectionist policies seen as supportive of the currency.