GBP: The Pound surged yesterday after the Bank of England’s monetary policy committee decided to keep interest rates steady at 5.0%, indicating that future rate reductions would likely be gradual. Markets anticipate two more BoE rate cuts by year-end, though some economists predict only one.

EUR: The Euro remained relatively quiet yesterday, with a lack of significant Eurozone data making it difficult for the currency to gain momentum. Additionally, a generally positive market sentiment caused the safer Euro to weaken against riskier currencies. Investors are now turning their attention to ECB President Christine Lagarde’s speech later today.

USD: The U.S. Dollar dipped slightly in early morning trading, continuing its overnight decline as markets anticipated lower U.S. interest rates. The Federal Reserve has already cut rates by 50 basis points and initiated an easing cycle that could lead to a total reduction of 125 basis points by the end of the year.