Daily Update 26/02/2025
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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