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17 Jun 2026

British Pound: UK softness supports Dollar edge – BBH

Brown Brothers Harriman highlights GBP/USD trading around its 200-day moving average as UK Gilts outperform European bonds. With softer UK May CPI delaying Bank of England tightening expectations to December, Elias Haddad expects GBP/USD to drift lower and stabilize closer to 1.3100, reflecting relatively stronger US growth prospects and ongoing uncertainty in the UK political landscape.

Soft UK CPI delays BOE tightening

"GBP/USD is directionless around its 200-day moving average (1.3417), while gilts are outperforming European bonds. UK May CPI was soft and suggests the Bank of England (BOE) will not be in a rush to tighten policy. Headline CPI unexpectedly remained at 2.8% y/y (consensus: 3.0%, BOE projection: 3.3%) for a second straight month while core CPI rose less than expected to 2.6% y/y (consensus: 2.7%) vs. 2.5% in April."

"The swaps curve pushed out the pricing of a first full 25bps BOE rate rise to December from November. We expect GBP/USD to edge lower and stabilize closer to 1.3100, reflecting a stronger US growth outlook relative to the UK and the murky UK political backdrop."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Jun 17, 2026

Euro: Euro struggles on hawkish ECB pricing – ING

ING’s FX team notes that a rate hike by the ECB is fully priced into EUR/USD, limiting upside for the Euro. They stress that even additional ECB hawkishness may not translate into Euro gains, as markets already discount tighter policy.
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Jun 17, 2026

Silver price remains under pressure as Fed decision, US-Iran truce shape outlook

Silver (XAG/USD) trades around $69.85 on Wednesday at the time of writing, down 0.25% on the day. Traders remain cautious ahead of the Federal Reserve’s (Fed) policy decision later in the day, which could provide fresh guidance on the outlook for US interest rates.
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