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British Pound: Growth slowdown and BoE tightening – BNP Paribas
BNP Paribas economists expect United Kingdom (UK) Gross Domestic Product (GDP) growth to slow to 0.7% in 2026 from 1.4% in 2025, with quarterly expansion dropping to about 0.1%. Inflation is projected to re-accelerate to 3.6% before easing only slightly.
Fxstreet
Mon, May 11
Hungarian Forint: Rally against Euro seen extending – ING
ING’s Frantisek Taborsky says Central and Eastern European (CEE) FX is benefiting from positive global sentiment, with EUR/HUF breaking to new lows below 355. Markets expect Hungary’s new Prime Minister Peter Magyar to unlock EU funds and advance Euro adoption.
British Pound: Political risks drags against Euro – ING
ING’s Chris Turner notes Sterling is softening after UK local elections, as Labour’s losses fuel talk of a leadership contest and a leftward policy shift. He highlights the risk of developments around Manchester Mayor Andy Burnham re-entering parliament.
Iran’s Baghaei: Response to US peace proposal was not excessive
Iran's foreign ministry spokesperson Esmaeil Baghaei said during the European trading session on Monday that the proposal to the United States (US) was not “excessive”, and Washington continues to have “unreasonable demands”.Fxstreet
Mon, May 11
BoE’s Greene: Inflation risks skewed to the upside
Bank of England (BoE) Monetary Policy Committee (MPC) member Megan Greene said during the European trading session on Monday that the central bank needs to wait to see how Middle East conflicts will flare before making any monetary policy adjustments.Fxstreet
Mon, May 11
Euro falls against Canadian Dollar amid higher oil prices
EUR/CAD inches lower after three days of gains, trading around 1.6090 during the Asian hours on Monday. The currency cross struggles as the commodity-linked Canadian Dollar (CAD) gains ground amid higher oil prices, given Canada’s status as the largest crude exporter to the United States (US).
Fxstreet
Mon, May 11
Fed: Extended pause before late 2026 cut – UOB
UOB’s Alvin Liew expects the Federal Reserve (Fed) to keep policy on hold for an extended period in 2026, with only one 25-basis-point cut pencilled in for 4Q26. The shift from earlier expectations of two cuts reflects persistent inflation pressures and delayed labour weakness.Fxstreet
Mon, May 11
Indian Rupee: PMI resilience contrasts with weakness – Commerzbank
Commerzbank notes that India’s April PMIs (Purchasing Managers' Index) show resilient activity in both manufacturing and services despite global uncertainty and higher input costs. External demand remains firm for goods, while domestic demand drives services.Fxstreet
Mon, May 11
Japanese Yen softens on Middle East tensions, Japan signals scope for more intervention
The USD/JPY pair gains ground to around 157.15 during the early European session on Monday. The US Dollar (USD) edges higher against the Euro (EUR) as ongoing concerns over the Middle East conflict boost safe-haven flows.
Fxstreet
Mon, May 11
Australian Dollar strengthens against Japanese Yen on hawkish RBA path
The AUD/JPY cross posts modest gains near 113.60 during the early European trading hours on Monday. The Australian Dollar (AUD) edges higher against the Japanese Yen (JPY) on a hawkish tone from the Reserve Bank of Australia (RBA).
Fxstreet
Mon, May 11
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