Euro hesitates above 0.8650 against the British Pound as Middle East tensions rise
The Euro (EUR) is trading flat against the British Pound (GBP) on Thursday. EUR/GBP bulls are struggling to find acceptance above 0.8660 following a 0.4% rally over the previous two days, although downside attempts remain contained above 0.8655 so far.
Speculative demand for the common currency is faltering on Thursday as market sentiment sours and Oil prices jump with tensions between the US and Iran escalating again.
The US military launched fresh strikes on Iranian military sites in the province of Bandar Abbas that, according to the US Central Command (Centcom), "posed a threat around the Strait of Hormuz.” Iran’s Islamic Revolutionary Guard Corps (IRGC) affirmed that they targeted US bases in the Gulf region, and Kuwait authorities reported interceptions of hostile drone and missile attacks.
ECB-BoE monetary policy divergence
The Euro, however, remains fairly steady, favoured by monetary policy divergence between the European Central Bank (ECB) and the Bank of England (BoE). Futures markets are pricing a 91% chance that the ECB will hike interest rates at its June 11 meeting, according to data by the ECB Watch Tool. The BoE, on the contrary, is not expected to tighten its monetary policy anytime soon.
The ECB Chief Economist, Philip Lane, warned on Thursday that inflationary consequences from the US-Iran war will outlast the conflict and that the bank must prevent the general belief that inflation will remain high for a long time to take hold.
Later on Thursday, ECB President Christine Lagarde is expected to take part in a central bankers’ meeting, and her comments on monetary policy will be listened to with particular interest.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Morgan Stanley Bullish on SpaceX: "Tera’Merica" Potential Undervalued, Enterprise AI and Computing Power Expansion Unlock Growth Space
Morgan Stanley believes that SpaceX's growth logic is expanding from aerospace and satellite communications to enterprise AI and computational infrastructure, while the reconstruction of U.S. advanced manufacturing may also open up broader long-term opportunities. The commercialization of enterprise AI and the expansion of computational power provide more direct growth support, while the manufacturing opportunities represented by "Tera’Merica" offer additional long-term growth potential for the company.
Bitcoin Price LIVE: Buyers Absorb Selling as $87,220 Liquidity Target Looms
Standard Chartered maintains $250 year end target for SOL despite price drop
SpaceX to Acquire Low-Band Spectrum Portfolio From Grain Management in Mobile Connectivity Push
06:50 AM EDT, 10/09/2026 (MT Newswires) -- SpaceX (SPCX) shares rose early Friday after the rocket and satellite company agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. SpaceX will buy Grain Management's entire portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band, the companies said in separate statements late Thursday. The deal is subject to the Federal Communications Commission's approval and other customary closing conditions. SpaceX's stock gained 3.7% in the most recent premarket activity. The companies did not disclose the financial terms, and neither immediately responded to MT Newswires' request for comment on the reported transaction value. SpaceX will pay about $8 billion in cash for the assets, The Wall Street Journal reported Thursday, citing people familiar with the matter. Grain Management, which specializes in digital infrastructure, acquired the 800 MHz spectrum portfolio from T-Mobile US (TMUS) in August in exchange for $2.9 billion in cash and all of Grain's 600 MHz spectrum licenses. "This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX said in its statement. Following regulatory approval, SpaceX intends to combine its satellite-to-mobile constellation in space with a terrestrial deployment that will enable Starlink Mobile's signals and services to reach customers from both the ground and space, according to the companies. SpaceX said most existing mobile devices already support the band. "Our spectrum expertise allows us to connect the strategic value of these assets with the technologies and operators that can realize their potential," Grain Management Chief Executive David Grain said in a separate statement. "This agreement with SpaceX brings that capability to bear at extraordinary scale." Shares of Verizon Communications (VZ), AT&T (T)
Crypto prices
More
