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GBP: Inflation adds to dovish BoE arguments - ING
Breaking news
GBP: Inflation adds to dovish BoE arguments - ING
New
2025.06.18 18:24
2025.06.18 18:24
2025.06.18 18:24
The UK has just released CPI figures for May. While the headline reading slowed a tad less than expected to 3.4%, and core was in line with consensus at 3.5%, the closely-monitored services CPI came in a bit below expectations at 4.7% (expected 4.8%), ING's FX analyst Francesco Pesole notes.
A move to 0.860 in EUR/GBP may be on the cards
"The Bank of England's recent hawkish turn has not been endorsed by data so far, as jobs, growth and now inflation figures have come in on the soft side. But it raises the risk of a slightly more dovish tone tomorrow; although not of a cut, which remains rather unlikely."
"For now, there aren't many arguments against EUR/GBP strength. Geopolitical risks generally harm the pound more than the euro, and the data flow has been GBP-negative of late. Unless the BoE surprises with a more hawkish-than-expected message tomorrow, a move to 0.860 may well be on the cards."
Last updated
: 2025.06.18
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FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
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US: Initial Jobless Claims dropped to 245K last week
US citizens filing new applications for unemployment insurance dropped to 245K for the week ending June 14, as reported by the US Department of Labor (DOL) on Thursday. This print matched initial estimates and came in below the previous week's revised tally of 250K (revised from 248K).
New
2025.06.18 21:37US Dollar drifts lower ahead of Fed decision as Middle East tensions persist
The US Dollar Index (DXY), which measures the value of the Greenback against a basket of six major currencies, is trading slightly lower on Wednesday after gaining about 0.7% the previous day.
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2025.06.18 21:35Gold turns cautious as Fed decision briefly overshadows Middle East tensions
Gold (XAU/USD) is holding steady near $3,385 on Wednesday, supported by persistent geopolitical tensions and investor caution ahead of the Federal Reserve's (Fed) policy decision.
New
2025.06.18 21:30WTI Oil price holds gains near $74.00, boosted by rising geopolitical risks
Verbal escalation between US President Donald Trump and Iranian officials has boosted fears of a wider regional war in the Middle East, with the involvement of the US, which is underpinning Crude Oil prices near four-month highs.
New
2025.06.18 20:51USD/INR holds near two-month high amid Middle East tensions and Fed caution
The Indian Rupee (INR) remains on the back foot against the US Dollar (USD) on Wednesday, marking its second consecutive day of weakness, despite a relatively subdued Greenback ahead of the key Federal Reserve's interest rate decision.
New
2025.06.18 20:45JPY is a relative outperformer on trade data surprise - Scotiabank
The Japanese Yen (JPY) is entering Wednesday's NA session with a 0.3% gain, outperforming nearly all of the G10 currencies in an environment of mild USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.06.18 20:41GBP outperforming most G10 currencies - Scotiabank
Pound Sterling (GBP) is a relative outperformer as we head into Wednesday's NA session, up nearly 0.3% vs. the US Dollar (USD) with a notable pop in response to the stronger than expected CPI release for the month of May.
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2025.06.18 20:40ECB's Centeno: Very worried about growth in Europe
European Central Bank (ECB) Governing Council member Mario Centeno said on Wednesday that he is very worried about the European economy's growth prospects and argued that inflation will not be at 2% without growth.
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2025.06.18 20:37EUR is a midperformer - Scotiabank
Euro (EUR) is up a modest 0.2% vs. the US Dollar (USD) and a relative performer among the G10 in an environment of mild USD weakness.
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2025.06.18 20:33CAD little changed on the day - Scotiabank
The Canadian Dollar (CAD) is little changed on the session after reversing losses through the upper 1.36s in thin trade just ahead of the Asian open earlier, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.06.18 20:30Disclaimer:
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