Weak PMI data in services’ sector from Europe and China contributed to decline of the interest of market participants to risky assets. In this connection the US Dollar has received a preference. That is why the growth of the Euro was slowed down. The attention of the market shifted to today’s’ meeting of the ECB and the Bank of England regarding the interest rate. In general the current day is going to be rich with events especially for the British Pound so this currency should be watched with special attention.
Yesterday the Euro was depreciating against the US Dollar from 1.2937 to 1.2877. Apparently the decline will continue if the interest to risky assets remains on the low level. The market is looking forward to the results of the ECB meeting with Bank of England.
Yesterday the Pound depreciated against the US Dollar from 1.6140 to 1.6066. The downgrading is most likely going to continue. The meeting of the ECB and the Bank of England is in focus of the Pound traders.