Today sees the Pound moving sideways versus both the Dollar and the Euro. With little overall news out in the last 24 hours this is to be expected.
GBP/EUR is towards the top end of the mid term range but is well shy of the recent highs indicating the possibility for the rate to move either direction at the moment.
Versus the Dollar the Pound is at the bottom of the trading range where it's been since early in the Ukraine crisis.
Today we see the US retail sales figures out but more importantly there's a speech from Joe Biden followed by the US interest rate decision followed by the FOMC press conference. Today is going to be a big day for the Dollar. Analysts are expecting a rate hike of 0.25% to 0.5%. Anything either side of this could see the Dollar shift.
Tomorrow sees the UK interest rate decision so it could be a fun couple of days.
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Today’s Economic Calendar
US: 12:30 Retail Sales
US: 15:45 President Joe Biden's Speech
US: 18:00 FED Interest Rate Decision
US: 18:30 FOMC Press Conference
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