The EUR/GBP cross extends its sideways consolidative price move through the first half of the European session on Monday and remains confined in a familiar range held over the past week or so.
EUR/GBP struggles for a firm near-term direction as traders keenly await the ECB on Thursday. The ECB is expected to lower interest rates again amid easing inflation and economic slowdown. Bets for an aggressive BoE policy easing undermine the GBP and act as a headwind for the cross. Spot prices currently trade around the 0.8365 region, nearly unchanged for the day as traders opt to wait on the sidelines ahead of the key central bank event risk later this week.
Meanwhile, the Bank of England Governor Andrew Bailey recently hinted that the central bank could cut interest rates more aggressively if there's further good news on inflation. The comments fueled speculation that the BoE might be headed towards speeding up its rate-cutting cycle and hold back traders from placing bullish bets around the British Pound . This, to a larger extent, offsets the negative factor and offers some support to the EUR/GBP cross.
ECB Interestrate BOE Currencies
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/GBP consolidates above 0.8350 ahead of ECB’s Lagarde speechThe EUR/GBP cross flat lines around 0.8355 during the early European session on Thursday.
Read more »
EUR/GBP Price Analysis: Pair finds stabilizes at 0.8350, technical outlook remains bearishEUR/GBP rose to 0.8370 on Wednesday, displaying some volatility during the European trading session.
Read more »
EUR/GBP gains traction to near 0.8350 ahead of BoE’s Greene speechThe EUR/GBP pair rebounds near 0.8345 during the early European session on Wednesday.
Read more »
EUR/GBP loses momentum below 0.8450 ahead of Eurozone, UK CPI dataThe EUR/GBP cross edges lower to near 0.8435 during the early European session on Monday.
Read more »
EUR/GBP trades flat above 0.8400, focus on UK/ Eurozone August inflation dataThe EUR/GBP cross remains steady around 0.8420 on Tuesday during the early European trading hours.
Read more »
EUR/GBP Price Analysis: Bearish momentum intensifies, buyers rejected by the 20-day SMAIn Monday's session the EUR/GBP and declined by 0.15% to 0.8425.
Read more »