Political developments set the tone for market activity yesterday, with the resignation of the French Prime Minister and the surprise victory of Sanae Takaichi in the LDP leadership race.
EURUSD its lowest point in a week, though the decline moderated during New York trading. Meanwhile, JPY experienced its weakest opening in more than three decades.
*Daily move - against G10 rates as of 06:00 BST, 07.10.25
** Indicative rates - interbank rates as of 06:00 BST, 07.10.25
Today brings minimal new economic data, with attention turning to a series of remarks from both ECB and Fed officials. Market focus is drawn to the JPY, which continues to soften amid expectations that the BoJ will maintain its current policy stance during the Takaichi administration. Meanwhile, the New Zealand dollar is under pressure ahead of tomorrow’s highly anticipated RBNZ decision, where an interest rate cut is broadly anticipated - the key uncertainty remains the scale of the move. The US dollar, meanwhile, continues to gain momentum this morning.
Read more about key events here:
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.
