Last week was a volatile yet relatively predictable one, with markets digesting further tariff announcements from President Trump and the Bank of England’s 25bps interest rate cut.
Despite these developments, Sterling ended the week largely unchanged at 1.24 against the U.S. Dollar and 1.20 against the Euro, meaning that while the week was eventful, market movements remained within expected ranges.
Looking ahead to the second week of February, there are several key events that could influence exchange rates. While political uncertainty remains a background theme, economic data releases and central bank commentary will be the primary drivers of market sentiment.
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