Pound Sterling (GBP)

The British Pound gained strength, supported by improved risk appetite and solid UK retail figures. While no new domestic data was released, attention turned to comments from Bank of England Deputy Governor Ramsden, whose dovish tone may have dampened sentiment slightly. Despite forecasts of slower GDP growth, potentially accelerated rate cuts, the Pound remains well supported.

Euro (EUR)

The Euro traded with caution as markets awaited key releases, including Germany’s consumer confidence and the Eurozone sentiment index—both expected to decline. Uncertainty surrounding upcoming inflation and GDP figures also limited movement, with potential implications for ECB policy.

U.S. Dollar (USD)

The U.S. Dollar continues to decline, pressured by a sharp fall in imports—especially from China—due to steep tariffs. Ocean freight bookings have plummeted over 60%, raising concerns about supply chain disruptions, job cuts, and weaker economic indicators. With growing trade tensions and waning investor confidence, the Dollar Index has fallen 8% in 2025, pointing to a broader downward trend rooted in structural and geopolitical challenges.