Tuesday 18th Febraury 2025
TODAY’s RATES & MARKET NEWS
Key Headline:
· GBP Strengthens Amid Robust Job Market
· Data Suggests Cautious Approach to Rate Cuts
Recap
· Quiet Start to the Week: A sparse economic calendar and the US holiday (President’s Day) keep market activity steady.
· USD Weakness Continues: The dollar extends its decline, pressured by last Friday’s disappointing retail sales data.
Today’s Rates
Today's Interbank Rates at 10:05 am against GBP movement.
GBP>EUR – 1.2046
GBP>USD – 1.2607
EUR>GBP – 0.8300
EUR>USD – 1.0466
GBP>CAD – 1.7887
GBP>AUD – 1.9819
GBP>SEK – 13.511
GBP>CHF – 1.1351
GBP>PLN – 5.0081
GBP>AED – 4.6290
GBP>HKD – 9.8011
GBP>ZAR – 23.170
Today’s Key Takeaways
· RBA Rate Cut with a Hawkish Tone: The Reserve Bank of Australia lowered interest rates by 0.25% but maintained a cautious stance on future cuts, keeping the AUD slightly firmer.
· GBP Strengthens on Job Market Data: The UK unemployment rate held steady at 4.4% instead of rising to 4.5%, and wage growth exceeded expectations, reinforcing the Bank of England’s cautious approach to rate cuts.
· Focus on UK CPI Data: Tomorrow’s inflation report could further support GBP, as expectations point to rising prices.
18th February 2025
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