Created
: 2025.08.07
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Forex Today: BoE rate decision, employment-related US data to ramp up volatility
World FX news
Breaking news
Forex Today: BoE rate decision, employment-related US data to ramp up volatility
New
2025.08.07 17:30
2025.08.07 17:30
2025.08.07 17:30
Here is what you need to know on Thursday, August 7:
Markets remain cautious on Thursday as they assess the latest news surrounding the US trade regime, while waiting for the Bank of England's (BoE) monetary policy announcements. Later in the day, the US economic calendar will feature weekly Initial Jobless Claims data alongside Unit Labor Costs for the second quarter.
The US Dollar (USD) came under bearish pressure on Wednesday after United States (US) President Donald Trump delivered news regarding tariffs. Trump issued an executive order imposing an additional 25% tariff on Indian imports and said that he could impose an extra 25% tariff on Chinese goods over China's purchases of Russian oil. Additionally, he said that he will impose a 100% tariff on semiconductors and chips, but not for companies that are building in the US, and threatened an extra 15% tariff on all Japanese imports. After posting marginal gains on Monday and Tuesday, the USD Index turned south and lost more than 0.5% on Wednesday. The index stays relatively calm and fluctuates above 98.00 in the European morning on Thursday.
US Dollar PRICE This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.73% | -0.63% | -0.10% | -0.33% | -0.77% | -0.74% | 0.15% | |
| EUR | 0.73% | 0.14% | 0.64% | 0.40% | -0.18% | -0.02% | 0.86% | |
| GBP | 0.63% | -0.14% | 0.53% | 0.26% | -0.33% | -0.16% | 0.73% | |
| JPY | 0.10% | -0.64% | -0.53% | -0.24% | -0.82% | -0.64% | 0.41% | |
| CAD | 0.33% | -0.40% | -0.26% | 0.24% | -0.60% | -0.40% | 0.46% | |
| AUD | 0.77% | 0.18% | 0.33% | 0.82% | 0.60% | 0.16% | 1.05% | |
| NZD | 0.74% | 0.02% | 0.16% | 0.64% | 0.40% | -0.16% | 0.87% | |
| CHF | -0.15% | -0.86% | -0.73% | -0.41% | -0.46% | -1.05% | -0.87% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The BoE is widely anticipated to lower the policy rate by 25 basis points (bps) to 4% after the August meeting. After announcing the rate decision, BoE Governor Andrew Bailey will deliver the policy statement and respond to questions in a press conference starting at 11:30 GMT. GBP/USD stays in a consolidation phase above 1.3350 after rising more than 0.4% on Wednesday.
During the Asian trading hours, the data from China showed that the Trade Surplus declined to $98.24 billion in July from $114.77 billion in June. On a yearly basis, Exports rose by 7.2% in this period, while Imports increased by 4.1%. AUD/USD holds its ground in the European morning and trades in positive territory above 0.6500.
EUR/USD gathered bullish momentum and rose more than 0.7% on Wednesday. The pair continues to stretch higher toward 1.1700 in the European session on Thursday.
USD/JPY trades marginally lower near 147.00 on Thursday after posting small losses on Wednesday.
Gold struggles to find direction and extends its sideways grind above $3,370 following a spike toward $3,400 during the Asian trading hours.
BoE FAQs
The Bank of England (BoE) decides monetary policy for the United Kingdom. Its primary goal is to achieve 'price stability', or a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates. The BoE sets the rate at which it lends to commercial banks and banks lend to each other, determining the level of interest rates in the economy overall. This also impacts the value of the Pound Sterling (GBP).
When inflation is above the Bank of England's target it responds by raising interest rates, making it more expensive for people and businesses to access credit. This is positive for the Pound Sterling because higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls below target, it is a sign economic growth is slowing, and the BoE will consider lowering interest rates to cheapen credit in the hope businesses will borrow to invest in growth-generating projects - a negative for the Pound Sterling.
In extreme situations, the Bank of England can enact a policy called Quantitative Easing (QE). QE is the process by which the BoE substantially increases the flow of credit in a stuck financial system. QE is a last resort policy when lowering interest rates will not achieve the necessary result. The process of QE involves the BoE printing money to buy assets - usually government or AAA-rated corporate bonds - from banks and other financial institutions. QE usually results in a weaker Pound Sterling.
Quantitative tightening (QT) is the reverse of QE, enacted when the economy is strengthening and inflation starts rising. Whilst in QE the Bank of England (BoE) purchases government and corporate bonds from financial institutions to encourage them to lend; in QT, the BoE stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive for the Pound Sterling.
Last updated
: 2025.08.07
Related articles
GBP/USD softens to below 1.3450 on renewed US Dollar demand
17 minutes agoEUR/USD steadies around 1.1650 amid Fed rate cut expectations, ECB policy pause
2025.08.08 12:17Japanese Yen drifts lower against rebounding USD; downside potential seems limited
2025.08.08 11:38Australian Dollar weakens as RBA rate cut expectations rise
2025.08.08 11:30US Dollar Index holds positive ground above 98.00 on report Waller favored to Chiar Fed
2025.08.08 11:09NZD/USD trades with mild losses to near 0.5950 on modest US Dollar strength
2025.08.08 10:21
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.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Silver price forecast: XAG/USD stays above $38.00 on Fed rate cut bets, tariff concerns
Silver price (XAG/USD) extends its gains for the second successive session, trading around $38.20 per troy ounce during the Asian hours on Friday. The non-interest-bearing Silver attracts buyers amid rising odds of a rate cut by the Federal Reserve (Fed) in September.
New
2025.08.08 13:14GBP/USD softens to below 1.3450 on renewed US Dollar demand
The GBP/USD pair posts modest losses near 1.3440 during the Asian trading hours on Friday.
New
2025.08.08 13:01EUR/USD steadies around 1.1650 amid Fed rate cut expectations, ECB policy pause
EUR/USD remains steady after registering gains in the previous three successive sessions, trading around 1.1660 during the Asian hours on Friday.
New
2025.08.08 12:17Japanese Yen drifts lower against rebounding USD; downside potential seems limited
The Japanese Yen (JPY) attracts some intraday sellers after the Summary of Opinions from the Bank of Japan's (BoJ) July meeting showed that policymakers remain worried about the potential negative impact of higher US tariffs on the domestic economy.
New
2025.08.08 11:38Australian Dollar weakens as RBA rate cut expectations rise
The Australian Dollar (AUD) depreciates against the US Dollar (USD) on Friday, after three days of gains.
New
2025.08.08 11:30US Dollar Index holds positive ground above 98.00 on report Waller favored to Chiar Fed
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges higher to around 98.15, snapping the two-day losing streak during the Asian trading hours on Friday.
New
2025.08.08 11:09NZD/USD trades with mild losses to near 0.5950 on modest US Dollar strength
The NZD/USD pair trades with mild losses near 0.5960 during the early Asian trading hours on Friday. However, the potential downside for the pair might be limited amid encouraging Chinese trade data.
New
2025.08.08 10:21PBOC sets USD/CNY reference rate at 7.1382 vs. 7.1345 previous
On Friday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1382 as compared to the previous day's fix of 7.1345 and 7.1742 Reuters estimate.
New
2025.08.08 10:15Japan's Akazawa sees US to repay accumulated taxes later
Japanese trade envoy Ryosei Akazawa said on Friday that the United States (US) has agreed to correct a presidential order on tariffs and refund any excess duties collected in error. Akazawa added that there was no disagreement between the US and Japan over reciprocal tariffs.
New
2025.08.08 09:47BoJ Summary of Opinions: Member says uncertainty surrounding trade policy and impact remains large
The Bank of Japan (BoJ) published the Summary of Opinions from the July monetary policy meeting, with the key findings noted below.
New
2025.08.08 09:18Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
