Published date: 09 June 2025

GBPEUR

GBP/EUR has reached a low-volatility equilibrium, consolidating between support at 1.1833 and resistance at 1.1908. A lack of fireworks from last week’s ECB meeting, a wait until next week’s BoE meeting, and a pregnant pause before further tariff developments make the recent lack of volatility inevitable. UK wage and GDP data are forthcoming this week, with little news expected from the eurozone.

GBPUSD

GBP/USD echoed the prior week by holding technical trendline support and edging higher in a low-volatility grind. The dollar was once again unable to arrest its ongoing decline, diverging ever further from the US equity market recovery. UK wage data tomorrow and stateside inflation on Wednesday are the key releases this week.

EURUSD

EUR/USD continued to edge higher last week, assisted by moderately hawkish comments from ECB chief Lagarde. Markets had expected more dovish remarks, given the downside risks to growth posed by the trade war. A light data schedule is in place for Europe this week, as interest lies in US data releases such as Wednesday’s inflation and Friday’s consumer sentiment data.