Daily Update 26/02/2025

John Hall • February 26, 2025

Wednesday 26/02/2025

Key Headline:

GBP/USD & EUR/USD Holding Strong: Both currency pairs continue to trade close to their recent highs.


Recap

US consumer confidence fell to its lowest level since June 2024, as uncertainty over tariff policies weighed on sentiment. This led to a pullback in the USD, with GBP/USD and EUR/USD slipping below previous resistance levels.


Today’s Rates

Today's Interbank Rates at 09:39 am against GBP movement.

GBP>EUR – 1.2051

GBP>USD – 1.2653

EUR>GBP – 0.8299

EUR>USD – 1.0499

GBP>CAD – 1.8126

GBP>AUD – 1.9994

GBP>SEK – 13.421

GBP>AED – 4.6465

GBP>HKD – 9.8340

GBP>ZAR – 23.283

GBP>CHF – 1.1320

GBP>PLN – 4.9846

Today’s Key Takeaways

  • USD Support from Budget Bill: The House passed a budget blueprint enabling $4.5 trillion in tax cuts, briefly supporting the USD overnight.
  • Ukraine-US Resource Deal: Reports suggest Ukraine has agreed to collaborate with the US on natural resource development, potentially opening the door for a ceasefire with Russia.
  • Zelenskiy’s Washington Visit: The Ukrainian President is expected to visit Washington on Friday to finalise the agreement.
  • Limited Market Data: With minimal economic releases today, FX rates are likely to remain stable within recent ranges.

26th February 2025


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