Currency news / October 16, 2025

UK shows modest growth

3 min read Thanim Islam

Thanim IslamOctober 16, 2025

Market snapshot:

UK shows growth of 0.1%
USD declines for second consecutive day

Yesterday's currency recap

USD weakened for the second consecutive day as treasury yields continued to decline, digesting Fed Powell signalling no pushback against market expectations for two rate cuts this year.

GBP recovered losses from earlier this week ahead of August’s GDP numbers.

Today's GBP rates

Currency pair	Daily move*	Indicative rate**
GBPAUD	0.15%	2.0566
GBPCAD	0.48%	1.8796
GBPCHF	0.10%	1.0678
GBPDKK	0.30%	8.5949
GBPEUR	0.30%	1.151
GBPJPY	0.17%	202.569
GBPNOK	-0.03%	13.527
GBPNZD	0.46%	2.3406
GBPSEK	0.02%	12.6985
GBPUSD	0.55%	1.3393

*Daily move - against G10 rates as of 06:00 BST, 16.10.25
** Indicative rates - interbank rates as of 06:00 BST, 16.10.25

Speeches

EUR: ECB Lagarde, Lane, Kocher
GBP: BoE Mann and Greene
USD: Fed Waller, Miran, Barr, Bowman

What we think

Helped by a rebound in manufacturing, UK GDP for August came in as expected at a very modest 0.1%. But it's worth that noting July’s reading was revised lower to -0.1% from 0.0%. As a result, GBP is marginally unchanged and gilt yields have fallen modestly.

EUR is starting the day marginally weaker, likely reflecting heightened market caution as French Prime Minister Lecornu prepares to navigate two imminent no confidence motions later today.

For the rest of the day we have a host of speakers from the Fed, ECB and BoE

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