GBP: The British Pound dropped to its lowest point against the U.S. Dollar since early July, influenced by broader market trends following Donald Trump’s election victory. However, it remained stable against the euro, supported by political instability in Europe. The Pound’s decline reflects global economic shifts and market anticipation of inflation and interest rate adjustments.

EUR: The Euro has been under pressure due to political instability in Germany and strained trade relations with the U.S. These challenges have fuelled speculation that the European Central Bank might adopt more aggressive rate cuts, further weakening the Euro’s appeal. Unlike the Pound, the Euro struggles to gain investor confidence amid ongoing economic and political uncertainties.

USD: The U.S. Dollar climbed to a one-year high, marking its sixth consecutive week of gains. Its rally was driven by expectations of persistent U.S. inflation and dovish remarks from Federal Reserve Chair Jerome Powell, which reduced market expectations of imminent rate cuts. As a result, the dollar index rose by 1.6% to 2% for the week.