There was very little volatility yesterday, with just some range trading amongst the G10. Earlier EUR losses were pared by the end of the day and USD was marginally weaker across the board on the continued threat to Federal Reserve (Fed) independence.
Bank of England (BoE) member Mann reiterated her stance on rates by suggesting they should stay on hold on persistent inflation concern in the UK. Earlier in the day, data showed that food inflation rose to an 18-month high.
*Daily move - against G10 rates at 7:00 am, 27.08.25
** Indicative rates - interbank rates at 7:00 am, 27.08.25
Very little out today for market to sink their teeth into, so we're expecting very similar moves to yesterday, with range trading and markets digesting French politics and Trump's battle with Lisa Cook.
Much of the volatility will be crammed in towards the end of the week with the initial jobless claims on Thursday, and inflation numbers from France, Germany and the US.
Our team of currency experts are here to help you get more from your money when making international payments. We will work with you to understand your payment needs and offer specialised guidance on the best options available to you. Over the last 19 years we’ve helped over a million customers and last year alone processed over £12bn. We’re tried and trusted, and we’re ready to help you.
Have a great day.
