20/01/2025
Today’s market activity is largely influenced by political and economic events surrounding Donald Trump’s second inauguration.
Today’s currency markets are dominated by weak UK data, dovish expectations for both the Bank of England and the European Central Bank, and cautious optimism surrounding the US Dollar ahead of major political events.
The pound is struggling amid weak UK data, while the euro and US dollar faced mixed fortunes due to dovish central bank expectations.
Today’s focus is squarely on the US CPI data, which could set the tone for major currency pairs in the coming days. GBP has found temporary relief, but broader UK economic challenges linger.
The Pound extended its losses across the board, reflecting heightened concerns about the UK’s economic outlook.
The US Dollar remains dominant across the board, buoyed by robust economic data and rising bond yields, while the Pound and Euro struggle under the weight of domestic uncertainties.