Published: 24/07/2026 By ECAP
BORROWING COSTS
The British Pound was subdued on Thursday as rising UK government borrowing costs weighed on investor confidence. Concerns remain over how the government’s recent spending plans will be funded, despite measures aimed at helping households and businesses. Attention now turns to upcoming UK business activity and retail sales data, which could influence the Pound. Weaker economic figures may add further pressure, while stronger results could offer some support.
The Euro traded steadily as investors reacted to the European Central Bank’s latest interest rate decision. Markets focused on comments suggesting inflation could remain elevated for longer, although concerns about weaker economic growth limited optimism. Attention now turns to the latest Eurozone business activity data. Stronger figures could support the single currency, while signs of slowing growth may weigh on sentiment.
The US Dollar lacked clear direction as investors balanced ongoing concerns over tensions in the Middle East with resilient market confidence. Hopes for a diplomatic breakthrough offered some support to risk appetite, limiting demand for the safe-haven currency. Attention now turns to the latest US business activity data, where stronger than expected results could improve confidence in the US economic outlook and support the Dollar.
Data supplied by GC Partners