Sterling continues losing streak
Daily Currency Update
The Pound regained much of its earlier losses on Wednesday after weaker-than-expected inflation data initially pushed it over half a cent lower against both the Euro and the US Dollar, marking a fifth straight day of declines. The softer inflation print has strengthened market expectations that the Bank of England may continue easing interest rates in the coming months.Key Movers
The US Dollar remains resilient, drawing steady support as traders adopt a cautious stance ahead of Friday’s US inflation data. The ongoing government shutdown and related data blackout have added uncertainty, while President Trump’s recent softening of trade rhetoric toward China has helped improve risk sentiment over the past few days.Meanwhile, the Euro continues to drift without clear direction, awaiting a catalyst to drive movement. That may come today, with ECB President Christine Lagarde speaking now, another ECB board member due to speak later, and Eurozone consumer confidence data set for release.
Expected Ranges
- GBP/USD: 1.33 - 1.338 ▼
- GBP/EUR: 1.148 - 1.153 ▼
- GBP/AUD: 2.05 - 2.065 ▼
- EUR/USD: 1.157 - 1.162 ▲