06/01/2026
The US Dollar softened as risk appetite improved and weak ISM Manufacturing data weighed on the currency. Sterling advanced strongly, with GBP/EUR breaking to 1.1550 and GBP/USD holding near multi‑month highs.
The US Dollar extended its recovery as geopolitical tensions surged following the US strike on Venezuela. Sterling held firm against the Euro and only modestly softened against the Dollar, supported by the BoE’s gradual easing stance.
Markets quietened ahead of Christmas Eve, with the Dollar under pressure despite stronger US GDP. Sterling held firm above 1.3500 on BoE’s gradual easing stance, while the Euro gained modestly on Fed–ECB divergence.
The US Dollar weakened sharply ahead of today’s Q3 GDP release, boosting GBP, EUR, AUD and CAD. Sterling outperformed on expectations of a gradual BoE easing cycle, while the Euro gained on Fed–ECB divergence.
Sterling firmed on confirmed Q3 GDP growth, while the Euro held steady after the ECB’s policy pause. The US Dollar softened ahead of Tuesday’s GDP release, supporting AUD and CAD.
Sterling steadied after BoE’s close‑vote cut, with GBP/EUR back above 1.1400 and GBP/USD holding near 1.3380. The Euro extended losses as ECB reaffirmed its cautious stance.