The European Central Bank (ECB) left policy unchanged as expected, but upward revisions to growth and inflation forecasts triggered a reversal of pre-decision EUR weakness, even as enthusiasm around late-2026 rate hikes remains tentative, TDS' economists report.

GBP/USD surges during Thursday’s North American session as following the release of a benign US inflation report and a “hawkish” rate cut by the Bank of England (BoE). The pair trades at 1.3410 up 0.28% after reaching a daily low of 1.3340.

The Euro (EUR) trades on the back foot against the Japanese Yen (JPY) on Thursday, as the European Central Bank’s (ECB) decision to keep interest rates unchanged failed to weaken the Yen, which remains supported by firm expectations of a Bank of Japan (BoJ) rate hike on Friday.

The Canadian Dollar (CAD) is steady and rangebound, supported by bond market dynamics but capped by softer energy prices and equity volatility.

The Euro (EUR) regains ground against the US Dollar (USD) on Thursday after the European Central Bank (ECB) kept its three key policy rates unchanged. At the time of writing, EUR/USD trades around 1.1756, reversing higher after dipping to an intraday low near 1.1712.

The British Pound (GBP) edges higher against the Canadian Dollar (CAD) on Wednesday, reversing earlier losses as markets digest the Bank of England’s (BoE) latest monetary policy decision. At the time of writing, GBP/CAD trades near 1.8478, rebounding from a daily low around 1.8384.

The British Pound (GBP) strengthens against the Japanese Yen (JPY) on Thursday in the initial reaction to the Bank of England’s (BoE) monetary policy announcement. At the time of writing, GBP/JPY trades around 208.40, edging modestly higher after finding support near an intraday low of 207.87.

The Euro accelerated its decline from levels near 0.8800 against the Pound Sterling, to reach intra-day lows near 0.8750 at the time of writing, with the weekly low of 0.8745 at a short distance.The Bank of England met the market’s expectations and cut its Bank Rate by 25 basis points to 3.75% on Th

The New Zealand Dollar has failed to draw any significant support from the strong New Zealand GDP figures and is losing ground against the US Dollar. The pair is hovering right above the 0.5755 support area at the time of writing, after having peaked at 0.5830 last week.

NZD/USD slipped to 0.5766 as markets digest New Zealand’s stronger-than-expected Q3 GDP growth of 1.1% q/q.

EUR/USD trades above 1.1700 as markets await today’s European Central Bank (ECB) meeting. The central bank is expected to keep rates at 2.00%, with President Lagarde’s remarks on future hikes likely to influence the euro’s near-term direction, BBH FX analysts report.

GBP/USD trades cautiously above 1.3310 as markets brace for today’s Bank of England meeting. A 25bps cut to 3.75% is widely expected, with a tight 5-4 vote likely, while guidance signaling gradual further easing could pressure the pound on crosses, BBH FX analysts report.

The USD/JPY pair trades higher around 156.00 during the European trading session on Thursday. The pair gains as the US Dollar (USD) rises ahead of the United States (US) Consumer Price Index (CPI) data for November, which will be published at 13:30 GMT.

The US Dollar bounced from three-month lows around 1.3730 against its Canadian Counterpart earlier this week, but has failed to find acceptance above the 1.3800 line.

USD/JPY remains supported above the 155 level as markets await the Bank of Japan’s policy update.

The Pound Sterling (GBP) has continued to trade at weaker levels ahead of today’s Bank of England (BoE) policy meeting following the release yesterday of the much weaker than expected UK CPI report for November, MUFG's FX analyst Lee Hardman reports.

The European Central Bank (ECB) is expected to keep rates on hold today, emphasizing that policy is in a 'good place' as stronger activity, wage, and inflation data lift euro-zone short-term rates.

Eurozone Construction Output w.d.a (YoY) increased to 0.5% in October from previous -0.3%

Eurozone Construction Output s.a (MoM) increased to 0.9% in October from previous -0.5%

The Euro bounced up from the mid-range of the 0.8700s, and maintains a moderately bid tone in the British Pound on Thursday.

The Australian Dollar is trading practically flat against the Greenback on Thursday, attempting to hold above a support area right below the 0.6600 line, to put an end to a five-day losing streak, after peaking at 0.6679 on December 10.Recent data from Australia showed that demand for employment dec

The Pound Sterling (GBP) reversed its gains after UK inflation came in below expectations, leaving the market focused on the Bank of England’s (BoE) rate cut today and the potential for further easing in upcoming meetings, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

Pound Sterling (GBP) weakened overnight after softer-than-expected CPI data, with technical signals hinting at a possible reversal. Market attention turns to today’s BOE meeting and committee vote, which could drive further downside.

EUR/USD has extended its rebound after breaking a short-term downtrend, but is now stalling near major resistance around 1.18, where near-term consolidation may decide whether a larger bullish trend unfolds, Société Générale's FX analysts note.

EUR/USD posts marginal losses on Thursday, trading near 1.1730 at the time of writing, after bouncing from lows near 1.1700 the previous day. The pair has found some balance halfway through the weekly range after whipsawing earlier in the week.

Markets are focused on whether the European Central Bank’s (ECB) recent hawkish shift is confirmed by updated forecasts and rhetoric, with inflation projections the main risk and scope for a short-term dip in EUR/USD despite supportive year-end option dynamics, ING's FX analyst Chris Turner notes.

Euro (EUR) consolidated near recent highs. Focus today on European Central Bank (ECB) decision. Policy rate is widely anticipated to be on hold but attention is on staff projection. Recent comments from ECB officials were somewhat more upbeat about economy – from growth to labor market.

The Yen remains on its back foot on Thursday, despite market expectations that the BoJ will hike interest rates on Friday.

The Bank of England is widely expected to cut rates by 25bp today, with rising odds of a dovish vote split after weaker November inflation data. This points to near-term downside risks for sterling, ING's FX analyst Chris Turner notes.

The Pound Sterling (GBP) trades lower against its major currency peers on Thursday ahead of the Bank of England’s (BoE) interest rate decision, which will be announced at 12:00 GMT.