Pound Sterling (GBP)

The British Pound experienced fluctuations yesterday due to a lack of major UK economic data to influence its movement. Investors remained cautious as they awaited key employment figures and the Bank of England’s upcoming interest rate decision. Until these data releases, the Pound is likely to remain volatile, with market sentiment playing a crucial role.

Euro (EUR)

The Euro remained relatively weak as investors focused on an upcoming meeting between U.S. President Trump and Russian President Putin regarding the war in Ukraine. While an end to the conflict could strengthen the Euro, concerns over possible concessions to Russia caused uncertainty. Meanwhile, optimism surrounding Germany’s fiscal reforms could provide support, though trade disputes and European Central Bank policies will continue to impact its performance.

U.S. Dollar (USD)

The U.S. Dollar gained strength ahead of the Federal Reserve’s interest rate decision, pushing the Dollar Index up 0.2% to 103.59. Investors were particularly focused on the Fed’s stance on trade policies, especially Trump’s tariffs. Any signals from the Fed about economic conditions and potential effects of trade tensions will be closely watched.