Last week, the British Pound dropped to its lowest levels versus the Euro in five months. If UK PMI numbers don’t stand out in comparison to those of the Eurozone, the chances of a major recovery are still slim. However, even if a series of domestic data points that indicated a slowing economy put the British Pound under pressure, the currency might recover if this week’s PMI readings above forecasts.

Following a week of inconsistent trading, the euro was largely flat Wednesday morning as investors awaited the ECB’s most recent policy announcement on Thursday. The market anticipates Frankfurt to maintain rates because to both inflation and the slowing of the economy. This won’t surprise the market and won’t affect the value of the euro; instead, the market will be influenced by the instructions given by ECB President Christine Lagarde and the Governing Council.

International markets are still plagued by geopolitical concerns, which has rekindled investor interest in the safe-haven U.S. Dollar. In other news, Fed Chair Jerome Powell and many other Fed officials gave hints that interest rates would remain unchanged at the FOMC’s November meeting as it entered its blackout period. They actually expressed a desire to postpone rate increases while they monitor how the economy performs over the ensuing months.

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