Currency news / August 19, 2025

Markets rangebound ahead of Jackson Hole

3 min read Thanim Islam

Thanim IslamAugust 19, 2025

Market snapshot:

GBP and EUR moves to be dictated by data later in the week

Yesterday's currency recap

USD was slightly stronger to start the week, with the USD index up by 0.3% in thin volumes. G-10 FX ranges were very tight as markets wait for data from Wednesday onwards.

Trump's meeting with Ukraine's president and European leaders ended with a call for a trilateral summit with Russia, which could be held within the next few weeks.

Today's GBP rates

Currency pair	Daily move*	Indicative rate**
GBPAUD	-0.03%	2.0822
GBPCAD	-0.30%	1.8674
GBPCHF	-0.28%	1.0906
GBPDKK	0.04%	8.6467
GBPEUR	0.04%	1.1585
GBPJPY	0.14%	199.766
GBPNOK	-0.15%	13.7934
GBPNZD	-0.27%	2.2824
GBPSEK	-0.21%	12.9203
GBPUSD	-0.27%	1.3517

*Daily move - against G10 rates at 7:00 am, 19.08.25
** Indicative rates - interbank rates at 7:00 am, 19.08.25

Key data points

Currency	Event	Period	Consensus	Previous
CAD	CPI MoM	Jul	0.30%	0.10%
CAD	CPI YoY	Jul	1.80%	1.90%

What we think

USD price action remains lacklustre while markets wait for the FOMC minutes on Wednesday and the Jackson Hole meeting towards the end of the week.

GBP and EUR sit in the crosshairs of key data later this week (UK CPI, retail sales; PMIs), and again we expect ranges to hold until then.

Canada CPI is out today with markets expecting cooler headline CPI, which would reinforce the Bank of Canada's (BoC) hold on rates.

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