EUR/GBP implied volatility hits highest since 2022 mini-budget – ING

EUR/GBP implied volatility spikes as markets adopt a cautious stance ahead of tomorrow’s UK Budget, with the pair expected to trade around 0.880 unless new developments emerge, ING's FX analyst Francesco Pesole notes.

Currency markets brace ahead of UK budget announcement

"EUR/GBP one-week implied volatility is trading 3 vols above realised, which is the highest relative gap since the 2022 Mini Budget. This signals that despite some recovery in back-end gilts, the currency market remains concerned ahead of tomorrow’s UK Budget announcement."

"The pair may hold around 0.880 for today amid a wait-and-see approach. That is, unless some Budget anticipations appear in the media and move the market (a non-negligible risk)."

Nov 25, 2025

USD/JPY rise slows amid growing intervention talk – OCBC

The recent rise in USD/JPY continues to slow. Japan’s growth minister Minoru Kiuchi said the government is watching currency movements, including speculative activity, with a high sense of urgency. Pair was last seen at 156.30 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Nasdaq 100 reclaims October lows amid weak downward momentum – Société Générale

Nasdaq 100 rebounds from interim lows but faces resistance near 25,650 points, with technical signals suggesting a brief bounce before potential continuation of the pullback, Société Générale's FX analysts note.