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Forex News

News source: FXStreet
Oct 21, 14:33 HKT
British Pound remains broadly flat after hot UK CPI data
  • The British Pound reflects volatile moves after the UK CPI data release, but remains broadly steady.
  • In September, both headline and core UK CPI grew at a faster-than-expected pace.
  • Strong UK job data and CPI figures could boost hawkish BoE bets.

The British Pound (GBP) reflects topsy-turvy moves against its peers, but remains broadly flat, after the release of the hotter-than-expected United Kingdom (UK) Consumer Price Index (CPI) data for September. Against the Japanese Yen (JPY), the British currency is almost flat at around 211.45.

The Office for National Statistics (ONS) has reported that the headline CPI grew by 3.5% Year-on-Year (YoY), faster than 3.4% estimates and the August reading of 3.1%. In the same period, the core CPI – which excludes the volatile components of food, energy, alcohol and tobacco – also grew stronger by 2.8% YoY vs. estimates of 2.7% and the previous release of 2.6%.

On a monthly basis, inflationary pressures rose by 0.4%, faster than expectations of 0.3%, but slower than the prior release of 0.5%.

On Tuesday, the UK labor market data for three months ending August also came in better-than-projected. The duo of strong job data and hot CPI figures will likely boost expectations of an interest rate hike by the Bank of England (BoE) in the November policy meeting. So far this year, the BoE has held interest rates steady at 3.75%.

BoE Monetary Policy Committee (MPC) member Megan Greene also warned of upside inflation risks on Tuesday, citing that second-round inflation effects could start materializing.

BoE’s Greene flags stalled wage disinflation, keeping GBP rate hike risks alive

BoE’s Greene scores 7.4/10 on the FXS Speechtracker, exactly in line with Greene’s historic average, signaling a consistent tone rather than an escalation in rhetoric. The emphasis that wage disinflation has stalled at levels above those consistent with 2% inflation, alongside a belief that policy should proactively lean against second-round effects, marks a clearly hawkish bias for GBP.

Greene’s view that the risk of second-round inflation effects is greater than previously thought, even as forward-looking data point to pay growth closer to 3.5%, reinforces the case for keeping policy tight. References to surprising economic resilience and labor market slack potentially having peaked suggest limited downside growth risks, supporting a narrative of sustained GBP support as markets price in a slower path to future rate cuts.

On Tokyo front, investors await the National CPI data for September, which is scheduled for Friday.

 

Economic Indicator

Employment Change (3M)

Employment Change released by the UK Office for National Statistics represents the change in the number of people who were employed in the UK in the three months to the release period. Generally, a healthy and consistent increase of this figure is seen as bullish for the Pound Sterling (GBP), while a decrease is seen as bearish.

Read more.

Last release: Tue Oct 20, 2026 06:00

Frequency: Monthly

Actual: 102K

Consensus: -

Previous: 67K

Source: Office for National Statistics


 

Oct 21, 10:00 HKT
United Kingdom CPI inflation climbs to 3.5% YoY in September, vs. 3.4% expected

The United Kingdom (UK) headline Consumer Price Index (CPI) climbed 3.5% over the year in September, compared to a rise of 3.1% in August, the data released by the Office for National Statistics (ONS) showed on Wednesday. 

Markets predicted a 3.4% growth in the reported period. The UK inflation reading was well above the Bank of England’s (BoE) 2% inflation target.

The core CPI (excluding volatile food and energy items) rose 2.8% year-over-year (YoY) in the same period, compared to August’s 2.6% print and came in above the forecast of 2.7%.

Meanwhile, the monthly UK CPI arrived at 0.4% in September versus an increase of 0.5% reported in August, beating the market consensus of 0.3%.

GBP/USD reaction to the UK CPI inflation data

Hotter UK CPI inflation report fails to boost the British Pound (GBP). At the time of writing, the GBP/USD pair is trading 0.08% lower on the day to trade at 1.3373.

Pound Sterling Price This week

The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the weakest against the Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.32% -0.45% 0.09% -0.42% -0.83% -0.32% -0.03%
EUR 0.32% -0.11% 0.46% -0.06% -0.42% 0.02% 0.31%
GBP 0.45% 0.11% 0.57% 0.06% -0.30% 0.13% 0.47%
JPY -0.09% -0.46% -0.57% -0.49% -0.91% -0.41% -0.01%
CAD 0.42% 0.06% -0.06% 0.49% -0.42% 0.12% 0.42%
AUD 0.83% 0.42% 0.30% 0.91% 0.42% 0.43% 0.74%
NZD 0.32% -0.02% -0.13% 0.41% -0.12% -0.43% 0.34%
CHF 0.03% -0.31% -0.47% 0.00% -0.42% -0.74% -0.34%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).


This section below was published at 02:00 GMT as a preview of the UK Consumer Price Index (CPI) inflation data.

  • UK CPI is expected to accelerate to 3.4% YoY in September from 3.1% in August, the hottest level since December last year.
  • Core inflation is also seen accelerating as the impact of high energy prices spills over into the broader economy.
  • These figures might provide the BoE with the definitive argument to tighten its monetary policy at November’s meeting.

The United Kingdom (UK) Office for National Statistics (ONS) is expected to release September’s Consumer Price Index (CPI) on Wednesday at 06:00 GMT. These figures will be accompanied by the Producer Price Index (PPI) and the Retail Sales report.

Consumer inflation figures are expected to be closely watched by investors to shed more light on the outcome of the Bank of England’s (BoE) next monetary policy meeting. Some BoE officials, including Governor Andrew Bailey, have flagged the need to hike interest rates to tame inflationary pressures, although they have been vague about the timing of the next move. If UK inflation data confirms market expectations, it might cement hopes of a rate hike in November, which would increase speculative demand for the British Pound (GBP).

What to expect from the next UK inflation report?

The market consensus anticipates a 0.3% increase in consumer inflation in September, down from August’s 0.5% rise, but with the year-on-year rate accelerating to 3.4% from 3.1% in the previous month.

Core inflation, which excludes the volatile energy, food, alcohol and tobacco components, is also seen accelerating, although at a more moderate pace. September's Core CPI is seen picking up to a 2.8% pace from 2.6% in August, adding to evidence that the impact of the energy shock stemming from the Middle East conflict is spreading through the broader economy.

Crude prices have risen more than 10% so far in October and have appreciated nearly 50% since July. The barrel of Brent Oil trades at five-month highs above $108.00 at the time of writing, and is unlikely to return to pre-war levels anytime soon, given the ever-growing entanglement among regional powers. The scenario points to high inflation pressures for a protracted period of time and the risk that central banks will fall behind the curve if they fail to react promptly.

Against this backdrop, the Bank of England has been one of the few major central banks that have not tightened its monetary policy in 2026. Some BoE officials have called for an interest rate hike, and Governor Bailey expressed his frustration with above-target inflation at the International Monetary Fund (IMF) summit in Bangkok last week, which fuelled investors’ confidence in some monetary tightening before year-end.

Recent UK data has endorsed those views. The ILO Unemployment Rate, released on Tuesday, reflected a resilient labour market, despite a decline in vacancies and a larger-than-expected increase in claimants. Last week, monthly Gross Domestic Product (GDP) came in as a positive surprise, growing unexpectedly in August, amid a strong performance of the industrial sector. All this sets a favourable scenario for a quarter-point rate hike at next month’s meeting.

How will the UK Consumer Price Index report affect GBP/USD?

The British Pound is showing one of the strongest performances among the major currencies this week. Bright UK data has boosted confidence in the economic outlook and has eased concerns about the cost of the tax-relief measures promised by Prime Minister Andy Burnham’s cabinet. 

Analysts at Commerzbank assess that recent economic data “gives the Bank of England room to raise rates without running the risk of putting additional pressure on an already weakening economy (...) Also takes some pressure off the Chancellor, who remains committed to reducing the budget deficit.”

“How this can be achieved while at the same time providing relief to households and businesses facing high energy costs should become clearer when the budget is presented at the end of the month,” says Commerzbank in a note.

With those concerns in the rearview, at least for now, strong UK data and rising hopes that the BoE will finally hike rates in November remain the key Pound drivers this week. In contrast, the US Dollar languishes as investors pare back bets of back-to-back Federal Reserve (Fed) hikes, and the Euro suffers as protests in Paris turn violent, forcing the government to impose curfews in several cities.


GBP/USD Chart Analysis


From a technical perspective, the GBP/USD 4-hour chart shows an immediate bullish trend, confirmed by the successful break of the downtrend resistance line from the late August highs, which was retested on Monday. Momentum indicators are supportive, with the Relative Strength Index (14) above 60, although the Moving Average Convergence Divergence (MACD), practically flat around zero, suggests that the uptrend is still frail.

Bulls’ conviction is likely to be challenged in the area between Friday’s high at 1.3370 and the September 22 high near the 1.3400 area. A confirmation above those levels would bring the 61.8% Fibonacci retracement of the August-October downtrend, at 1.3467, and the previous support zone just above 1.3470 (September 2 and 4 lows), into focus.

On the downside, the confluence of the mentioned trendline and the previous range top, around 1.3295, is keeping bears away for now. A reversal below that level would expose the year-to-date lows in the 1.3140 area.

Inflation FAQs

Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.

The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.

Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money.

Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.

Economic Indicator

Consumer Price Index (YoY)

The United Kingdom (UK) Consumer Price Index (CPI), released by the Office for National Statistics on a monthly basis, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is the inflation measure used in the government’s target. The YoY reading compares prices in the reference month to a year earlier. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish.

Read more.

Next release: Wed Oct 21, 2026 06:00

Frequency: Monthly

Consensus: 3.4%

Previous: 3.1%

Source: Office for National Statistics

The Bank of England is tasked with keeping inflation, as measured by the headline Consumer Price Index (CPI) at around 2%, giving the monthly release its importance. An increase in inflation implies a quicker and sooner increase of interest rates or the reduction of bond-buying by the BOE, which means squeezing the supply of pounds. Conversely, a drop in the pace of price rises indicates looser monetary policy. A higher-than-expected result tends to be GBP bullish.



Oct 21, 14:18 HKT
EUR/USD Price Forecast: Loses ground below 1.1250, bearish technical prevails below 100-day SMA
  • EUR/USD weakens to around 1.1225 in Wednesday’s early European session.
  • French official will tap its military to help maintain order at planned protests coming weekend.
  • Negative outlook for the cross prevails below the 100-day SMA, with bearish RSI momentum.
  • The initial contention level is seen at 1.1185; the immediate resistance level to watch is 1.1252.

The EUR/USD pair trades on a softer note near 1.1225 during the early European trading hours on Wednesday. French turmoil and fiscal concerns weigh on the Euro (EUR) against the US Dollar (USD). Traders await the speeches from European Central Bank (ECB) policymakers later in the day, including President Christine Lagarde, Philip Lane, Joachim Nagel and Piero Cipollone.

France will reinforce police with troops and mount a huge security operation for more protests planned on Saturday as the government acknowledged failures in its response to last weekend's violence, per Reuters. French Prime Minister Sébastien Lecornu also said there would be fresh curfews “where the situation requires it.”

"The worries in France are not going away anytime soon," said Tommy von Brömsen, FX strategist at Handelsbanken. "The bearish view on France will stay for a while longer, and there's much more euro weakness to be priced in,” Tommy added.

Last week, the Federal Reserve (Fed) Chair gave no preview about whether he feels more interest rate hikes will be needed or when.

"I don't prejudge meetings," said Warsh during the IMF annual meeting in Bangkok. "I don't believe in saying now what I might do at the meetings that we have in the balance of this year,” he added.

Euro seen consolidating as UOB keeps EUR/USD in defined range

Strategists at UOB Group maintain that EUR/USD remains in a sideways pattern over the near term. Referring back to their latest update from last Friday, when spot was at 1.1215, they reiterate that the Euro “has likely entered a range-trading phase, and for the time being, it is likely to trade between 1.1160 and 1.1280.” UOB continues to “hold the same view for now,” underscoring a preference for consolidation rather than a directional call at this stage.

Warsh flags investment surge and AI focus but avoids pre-committing on policy

Fed Chair Warsh delivered a moderately constructive but cautious message, with the FXS Speechtracker score at 5.6/10, slightly softer relative to the historical average of 6.1/10 and consistent with a balanced tone. The admission of being "over-scarred from the global financial crisis" underscores a persistent bias toward risk management and financial stability, even as Warsh highlights structural growth and an investment surge driven by "good policies" and refuses to pre-judge upcoming FOMC decisions. The emphasis on AI as a near-term demand-side force and a tool to improve data confidence, alongside plans for an AI field hearing and new Fed task forces, points to a forward-looking stance that could eventually reshape expectations for the Dollar if productivity and inflation dynamics shift.

The FXS Fed Sentiment Index was unchanged, moving 0.00 points to a still-elevated level of 127.51, signaling that the speech left the perceived policy stance firmly in hawkish territory despite the non-committal language on future meetings. The combination of a flat FXS Fed Sentiment Index and a slightly lower FXS Speechtracker score suggests markets see no immediate shift in the Fed reaction function, with Warsh’s crisis-scarred caution and focus on financial stability risks reinforcing expectations for a vigilant, data-dependent path rather than a clear dovish pivot.

Chart Analysis EUR/USD

Technical Analysis: EUR/USD keeps a bearish vibe below key resistance levels

In the daily chart, EUR/USD maintains a bearish near-term bias as spot remains capped beneath the 20-day Bollinger simple moving average and the 100-day simple moving average (SMA). Price is also holding below the upper Bollinger band, reinforcing the idea of a market contained within a broader downside structure. The Relative Strength Index (14) at 39.6 sits in bearish territory but above oversold thresholds, hinting at persistent selling pressure rather than exhaustion.

On the downside, the October 19 low of 1.1185 acts as an first support level for the cross, followed by the lower limit of Bollinger band at 1.1115. A clear break below this level would likely open the path for the 1.1000 psychological level and then the May 12, 2025 low of 1.0951. 

On the bright side, initial resistance level is located at the 20-day Bollinger SMA around 1.1252, en route to the upper boundary of Bollinger band near 1.1390. Any follow-through buying above the mentioned level could pave the way to the 100-day SMA at 1.1460. 

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Euro FAQs

The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).

The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.

Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.

Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.

Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

Oct 21, 14:11 HKT
AUD/USD Price Forecast: Looks like there is a bullish reversal
  • The Australian Dollar gains further against the US Dollar as RBA’s Hauser warns of upside inflation risks.
  • RBA’s Hauser said that the monetary policy is effective, but the inflation outlook remains deteriorated.
  • The US Dollar is under pressure as the Fed will likely leave interest rates steady this month.

The Australian Dollar (AUD) extends its winning streak against the US Dollar (USD) on Wednesday, trading 0.26% higher at around 0.7015 in the early European trade. The Aussie pair strengthens following warnings from Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser, earlier in the day, that the “inflation outlook appears worse than forecast and slightly above expectations”.

Australian Dollar Price Today

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.11% 0.12% 0.00% 0.02% -0.25% 0.19% 0.18%
EUR -0.11% -0.07% -0.12% -0.11% -0.30% 0.02% 0.02%
GBP -0.12% 0.07% -0.06% -0.06% -0.23% 0.09% 0.09%
JPY 0.00% 0.12% 0.06% 0.00% -0.16% 0.15% 0.16%
CAD -0.02% 0.11% 0.06% -0.01% -0.17% 0.16% 0.16%
AUD 0.25% 0.30% 0.23% 0.16% 0.17% 0.33% 0.32%
NZD -0.19% -0.02% -0.09% -0.15% -0.16% -0.33% 0.00%
CHF -0.18% -0.02% -0.09% -0.16% -0.16% -0.32% -0.00%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

“Inflation has remained elevated for an extended period,” RBA Hauser said. She added, “Quarterly trimmed mean likely to exceed expectations.” Hauser further added, “Monetary policy effective, but inflation outlook deteriorates.”

RBA Hauser’s warning that price pressures could remain at elevated levels might prompt expectations of another interest rate hike by the central bank in the near term.

Meanwhile, the US Dollar trades with caution while the Federal Reserve (Fed) has entered a blackout period ahead of the policy decision later this month. The Fed is highly anticipated to leave interest rates unchanged in the range of 3.75%-4.00%.

AUD/USD Technical Analysis

In the daily chart, AUD/USD trades at 0.7014, holding just above the 20-period exponential moving average (EMA) at 0.6995, which suggests a mildly constructive near-term tone while the pair respects underlying trend support. Two upward-sloping support trend lines starting around 0.6904 and 0.6903 reinforce the notion of a gradually rising base, while the Relative Strength Index (14) at 50.96 stays close to neutral, hinting at balanced momentum rather than an impulsive move in either direction.

On the topside, immediate resistance appears at the nearer downward trend line starting from 0.7020, with a more significant barrier at the higher descending trend line drawn from 0.7138. On the downside, initial support is located at the 20-period EMA at 0.6995, ahead of the clustered rising trend-line supports around 0.6904/0.6903, where buyers are likely to defend the broader corrective advance.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

RBA FAQs

The Reserve Bank of Australia (RBA) sets interest rates and manages monetary policy for Australia. Decisions are made by a board of governors at 11 meetings a year and ad hoc emergency meetings as required. The RBA’s primary mandate is to maintain price stability, which means an inflation rate of 2-3%, but also “..to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.” Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will strengthen the Australian Dollar (AUD) and vice versa. Other RBA tools include quantitative easing and tightening.

While inflation had always traditionally been thought of as a negative factor for currencies since it lowers the value of money in general, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Moderately higher inflation now tends to lead central banks to put up their interest rates, which in turn has the effect of attracting more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in the case of Australia is the Aussie Dollar.

Macroeconomic data gauges the health of an economy and can have an impact on the value of its currency. Investors prefer to invest their capital in economies that are safe and growing rather than precarious and shrinking. Greater capital inflows increase the aggregate demand and value of the domestic currency. Classic indicators, such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can influence AUD. A strong economy may encourage the Reserve Bank of Australia to put up interest rates, also supporting AUD.

Quantitative Easing (QE) is a tool used in extreme situations when lowering interest rates is not enough to restore the flow of credit in the economy. QE is the process by which the Reserve Bank of Australia (RBA) prints Australian Dollars (AUD) for the purpose of buying assets – usually government or corporate bonds – from financial institutions, thereby providing them with much-needed liquidity. QE usually results in a weaker AUD.

Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the Reserve Bank of Australia (RBA) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the RBA stops buying more assets, and stops reinvesting the principal maturing on the bonds it already holds. It would be positive (or bullish) for the Australian Dollar.

Oct 21, 14:10 HKT
Euro: Sideways consolidation inside defined band against US Dollar – UOB

UOB strategists Quek Ser Leang and Lee Sue Ann highlight that EUR/USD extended modest gains as the US Dollar (USD) weakened on softer Treasury yields and better risk sentiment. Near-term, they see the Euro (EUR) trapped in a narrow intraday range, while the 1–3 week view keeps the pair in a broader consolidation band, with a 1–3 month corrective recovery potentially stretching above the 21-day EMA.

Euro stuck in well-defined ranges

"24-HOUR VIEW: Our view of range-trading yesterday was incorrect, as EUR briefly rose to a high of 1.1260 and then pulled back to close at 1.1236 (+0.23%). The brief advance did not lead to any increase in upward momentum, and we continue to expect EUR to trade in a range today, most likely between 1.1205 and 1.1255."

"1-3 WEEKS VIEW: Our most recent narrative was from last Friday (16 Oct, spot at 1.1215), when we indicated that EUR “has likely entered a range-trading phase, and for the time being, it is likely to trade between 1.1160 and 1.1280.” We continue to hold the same view for now."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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