Euro Under Pressure

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GBP: Yesterday, the British Pound lacked a clear trend due to the absence of significant UK economic data. Investors are now eagerly anticipating the Bank of England's interest rate decision on Thursday, which is expected to maintain rates at 5.25%. Officials are awaiting additional data, particularly on wages and services, to assess the sustainability of the recent decline in inflation.

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EUR: The Euro encountered some pressure following remarks from ECB officials. Pablo Hernandez de Cos, a member of the Governing Council, suggested that the central bank might consider lowering interest rates starting in June if Eurozone inflation continues to decrease. Similarly, ECB policymaker Mario Centeno proposed that reducing borrowing costs could help stave off a recession in the Euro area.

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USD: The U.S. Dollar managed to slightly increase in value yesterday afternoon. However, the dollar's gains were tempered by a cautiously optimistic market sentiment and the impending Federal Reserve interest rate decision. The Fed is expected to maintain its interest rate at the current level for the fifth consecutive time during tomorrow's meeting, signalling the need for further evidence that inflation will consistently return to its target of 2%.

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