Daily FX Report – Dollar Weakens

Pound Sterling (GBP)

The British Pound had a mixed day yesterday, as it struggled to gain momentum against other major currencies. Traders seemed cautious due to uncertainty around the UK economy, with concerns about growth and inflation playing a role. The Pound is likely to still face challenges as markets wait for clearer signs of economic stability or policy changes.

 

Euro (EUR)

The Euro performed well yesterday, continuing to benefit from optimism about the European economy. Investors seem confident in the Eurozone’s resilience despite global uncertainties, which has helped keep the Euro strong. However, this morning, the market is quieter as traders keep an eye on upcoming economic data that could influence the currency’s direction.

 

U.S. Dollar (USD)

The US dollar had a tough day yesterday, as worries about the health of the US economy weighed on its performance. Concerns about inflation and slower growth have made investors more cautious about holding Dollars. This morning, the dollar is still under pressure as traders look for signs of improvement in economic conditions or policy updates that might boost confidence.