- GBP: The British Pound remained steady during yesterday’s session as GBP investors continued to adjust their expectations for a possible Bank of England interest rate cut next month. This followed a wave of significant UK economic data last week, which, despite being largely positive, did not diminish the anticipation of consecutive rate cuts from the BoE.
- EUR: The Euro was relatively unchanged yesterday due to a lack of Eurozone data, leaving EUR investors with few trading opportunities. Looking ahead, the Eurozone is set to release its latest consumer price index later this morning. The finalized figures for July are expected to confirm a rise in inflation within the bloc, potentially supporting the euro.
- USD: The U.S. Dollar stabilized at a more than seven-month low as confidence grew that the Federal Reserve will cut interest rates in September. Powell’s speech on Friday is anticipated to provide more insights, although analysts do not expect the Fed chair to give a clear indication of the timing or extent of the rate cuts.