GBP: Yesterday, the British Pound didn’t show a clear direction due to a lack of UK economic data, making it vulnerable to the prevailing negative market sentiment. However, today started with the release of the UK’s latest jobs report, which showed a drop in unemployment for July. This decline seems to have balanced out concerns about a slowdown in wage growth during the same period.

EUR: The Euro weakened slightly yesterday, influenced by its negative relationship with the U.S. Dollar. Euro investors are cautious, avoiding major moves ahead of the European Central Bank’s (ECB) upcoming interest rate decision. Additionally, confirmation that Germany’s inflation significantly slowed last month could put further pressure on the Euro today.

USD: Meanwhile, the U.S. Dollar edged up as investors awaited important inflation data that will likely influence future U.S. interest rate decisions. The upcoming inflation report, expected on Wednesday, is anticipated to show further cooling in August, just ahead of a Federal Reserve meeting where a 25-basis point rate cut is expected.