Daily Spectrum Report

GBP - The British Pound saw modest losses this morning, driven more by global factors than domestic weakness. With limited UK data available, Sterling moved in response to broader market sentiment, particularly shifts in expectations around U.S. monetary policy. While the Pound dipped slightly against the Dollar, it showed resilience against the Euro, supported by technical momentum. Overall, the Pound remains stable but sensitive to external developments in the near term.  

EUR - The Euro came under pressure amid slowing Eurozone growth and fading momentum from earlier gains. In fact, a weak GDP reading and concerns over the U.S.–EU trade deal have unsettled investor sentiment. Moreover, technical market shifts and unwinding of long Euro positions added to the drag. Despite earlier strength as a non-Dollar alternative, recent developments suggest the Euro’s rally may be stalling, exposing it to further downside risk in the near term.  

USD - The U.S. Dollar strengthened after second-quarter GDP growth beat expectations, reinforcing the Federal Reserve’s decision to hold rates steady. In fact, Fed Chair Powell gave no clear signal of a September rate cut, prompting markets to scale back expectations. Moreover, the Dollar's rally was further supported by easing trade uncertainty and resilient inflation. Ultimately, these developments have helped the Dollar regain ground against major peers, extending its short-term upward trend.

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