The Bank of England (BoE) left its benchmark interest rate unchanged at 4%, following the conclusion of the September monetary policy meeting on Thursday.
Bank of England (BoE) Chief Economist Huw Pill said in a speech at the Institute of Chartered Accountants in England and Wales Annual Conference 2025 in London on Friday that the United Kingdom (UK) central bank must avoid cutting interest rates “too far and too fast” as inflationary pressures conti
EUR/USD posts marginal gains on Wednesday, to snap a three-day losing streak, and trades near 1.1610 after hitting one-week lows right below 1.1600 earlier on the day.
The Euro is pulling back from Friday’s gains, right above 0.8740, reaching session lows below 0.8720. The upbeat German Sentiment Index has failed to provide any significant support for the pair, as the Pound continues to draw support from the strong UK data released on Friday.
The ISM services index rebounded to 52.4 in October amid an expansion in current activity and coming demand conditions. Service-providers reported paying higher prices as concerns around tariff-induced cost pressure continues.
Risk aversion dominates financial markets in the American session on Wednesday, resulting in a much firmer US Dollar (USD) across the FX board. In the case of XAU/USD, demand for safety benefits both Gold and the Greenback, keeping the pair afloat, though off its intraday high of $4,132.
USD/CAD trades around 1.3830 during the European hours on Friday, remaining subdued after registering nearly a quarter-percent loss in the previous session.
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