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EBC Daily Snapshot Jul 5, 2024

EBC Forex Snapshot 5 Jul 2024 The US dollar was hovering near three-week lows on Friday ahead of payrolls data, while the pound was firm as the Labour party looked set to win a massive majority in the UK general election. Centre-left Labour was on course to capture 410 of the 650 seats in parliament, affording investors some much-needed certainty after years of market volatility under the Conservatives. Markets are also pricing in potentially two rate cuts this year, although the Fed last month forecast just one rate cut for 2024. Fed officials at their June meeting still struck a cautious tone, minutes showed. EBC Financial Market Forecast Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Economic Research Findings or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-07-05 08:51:01 (GMT)

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