The British Pound is marginally lower against both the US dollar and the Euro on the week after the latest BoE policy decision saw the terminal Bank rate outlook trimmed.

The U.S. economy added 187,000 jobs in July, a sign that the labor remains healthy by historical standards and widespread layoffs are not occurring despite the late stage of the economic cycle.

Oil remains on the front foot ahead of two potentially market moving events

European fundamental data has not helped spur on the currency despite encouraging GDP print. ECB looking to reach peak rates no longer supports the currency

Indices have seen their losses stabilise for now, after the mid-week drop following the US debt downgrade.

A few positives for the Australian Dollar this morning as China lifts Barley tariffs helping AUDUSD to tick slightly higher in the Asian session. The beginning of a sustained move higher?

GBP looks set to recoup some of its recent losses after BOE raised interest rates and didn’t rule out further tightening. To what extent GBP could rise against USD? What is the outlook for EUR/GBP and GBP/JPY?

Major US indices ended the day slightly underwater, as the US 10-year Treasury yields continue to head to its highest level in almost nine month.

The gold price stalled on trend line support today as markets take stock of a rising US Dollar and Treasury yields. The perceived ‘haven’ status is yet to emerge for the precious XAU/USD.