US-China Dialogue
GBP
The British Pound remained under pressure after UK business surveys showed a sharper slowdown in services activity. However, stronger manufacturing activity and an improved UK growth outlook provided some support. Looking ahead, UK retail sentiment and comments from Bank of England officials could influence the Pound. A cautious tone from policymakers or weak retail data could weigh on the Pound in the near term.
EUR
The Euro struggled to gain momentum despite encouraging business surveys showing steady factory activity and stronger growth in services. Positive economic data was offset by broader market pressures. Looking ahead, improved German business confidence could provide some support, while comments from European Central Bank officials may create uncertainty. Investors will also watch economic developments for signs of whether the Euro can strengthen further in the near term.
USD
The US Dollar remained supported by expectations that the Federal Reserve could raise interest rates again as inflation remains persistent. Comments from Fed officials reinforced this outlook, helping maintain demand. Ongoing geopolitical uncertainty also encouraged demand for the Dollar as a safe-haven asset. Looking ahead, developments in US-China relations could influence demand, particularly if tensions increase and markets become more cautious.
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