GBP – As investors wait for the BoE meeting later this week, the British pound stayed basically unchanged. On Thursday, the central bank is expected to raise interest rates for the 15th time in a row as the U.K. economy continues to struggle. After Thursday’s anticipated increase, there is a growing chance that the BOE will announce the end of its rate-hiking cycle.

EUR – As investors continue to evaluate the dovish hike by the European Central Bank, the euro attempted to recoup some of its losses from the previous week. Future speakers from the European Central Bank include Luis de Guindos, Frank Elderson, and Fabio Panetta. Their remarks will be examined to determine the extent of their dovish shift in response to signs that the year-long cycle of rate hikes is coming to an end.

USD – As traders carefully await the Fed’s rate decision this week, the U.S. dollar slipped lower in early European trade this morning, although it continued to trade at six-month highs. In light of this, it is anticipated that the Fed would leave interest rates steady while simultaneously maintaining its hawkish attitude, indicating that at least one more rate hike may occur this year.

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