With the BOE expected to keep rates at 4.25%, all eyes are on the pound to see if a clear direction emerges
19.06.2025
- Construction Output in Europe
- Japan: Foreign and Domestic Securities Investment
In the U.S. currency market the previous day, the U.S. dollar traded in a range against the euro after the FOMC meeting concluded without any surprises. With the U.S. policy rate held steady, the EUR/USD pair traded between 1.1461 and 1.1529, remaining within the range of the 20-period moving average (MA) on the hourly chart throughout the session.On the 4-hour chart, the candlesticks have stalled just below the 75-period moving average, and on the daily chart, the price has broken below the 10-period moving average line, which had previously served as support.
Ahead of today’s Bank of England (BOE) policy rate announcement, the pound fell against the yen. The GBP/JPY pair dropped from 195.346 to 194.332, finding resistance at the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the candlesticks have fallen to just below the 200-period simple moving average (SMA), and on the daily chart, the price has broken below the upper level of the 20-period moving average, which had previously served as support. We will be closely monitoring whether the pound continues to weaken following today’s policy rate announcement.
Today’s economic indicators include Japan’s foreign and domestic securities investment at 8:50, Australia’s employment report at 10:30, Switzerland’s trade balance at 15:00,at 4:30 p.m., the Swiss National Bank (SNB) policy rate and statement, remarks by ECB President Lagarde, at 5:00 p.m., remarks by SNB Governor Schlegel, at 6:00 p.m.,construction output, remarks by German Bundesbank President Nagel, at 20:00 UK BOE policy rate and statement release, publication of the UK BOE minutes, and Turkey TCMB policy rate and statement release.With the BOE expected to keep rates at 4.25%, we will be watching the pound closely to see if a clear direction emerges.
