The dollar dips after Powell’s comments, while the pound and euro stage a recovery. With multiple central bank updates due, markets are watching for the next move.
Key Insights:
- Powell’s remarks push USD lower, reversing recent strength
- BoE’s Bailey expresses caution over UK employment trends
Market Recap:
The dollar slipped after Fed Chair Powell pointed to labour market weakness and reaffirmed expectations for another rate cut later this month. Earlier, GBP and EUR both touched two-year lows before rebounding.
The euro found support from stronger German investor sentiment, while in France, PM Lecornu gained socialist backing to pause pension reforms and ease unrest.
Sterling stayed under pressure after soft UK jobs data and cautious comments from BoE Governor Bailey reinforced expectations for policy easing.
Today's Market Watch:
The pound and euro are extending their rebound after touching two-month lows yesterday, as traders continue to digest Fed Chair Powell’s comments on the U.S. outlook.
EUR continues to outperform GBP, keeping GBPEUR near this year’s lows, with markets still pricing in deeper Bank of England rate cuts.
It’s a packed day for central bank commentary, with policymakers from the ECB, BoE, and Fed all scheduled to speak. Markets will be watching closely for any fresh clues on the direction of monetary policy. In the U.S., the focus also turns to MBA mortgage data and the Fed’s Beige Book for further insight into economic conditions.
15th October 2025
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