The EUR/GBP cross trades in positive territory for the fifth consecutive day around 0.8490 during the early European session on Tuesday.
EUR/GBP gains momentum near 0.8490 in Tuesday’s early European session. The Euro gains ground after results from thefirst round of French elections. Traders will keep an eye on the UK Parliamentary elections on Thursday. The Euro edges higher after results from thefirst round of French elections suggested the far right would beat President Emmanuel Macron but fall short of winning an outright majority in parliament.
's chief strategist Alejandro Cuadrado commented In the event of Marine Le Pen's National Rally winning an absolute majority, the EUR could face additional short-term headwinds.” On the other hand, the GBP weakens as investors remain uncertain about the timeline that the Bank of England will start cutting interestrates. Also, market players turn cautious ahead of the UK elections outcome on Thursday.
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 rebounds above 0.8450 ahead of Eurozone Industrial Production dataThe EUR/GBP cross extends the recovery to 0.8455 during the early European session on Thursday.
Read more »
EUR/GBP IG Client Sentiment: Our data shows traders are now at their most net-long EUR/GBP since May 24 when EUR/GBP traded near 0.85.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.
Read more »
EUR/GBP holds key support of 0.8500 with focus on ECB policy decisionThe EUR/GBP pair remains subdued above the psychological support of 0.8500 in Tuesday’s American session.
Read more »
EUR/GBP stays above 0.8450 due to heightened expectations of BoE’s rate cut in AugustEUR/GBP extends its gains for the third successive session, trading around 0.8460 during the European session on Monday.
Read more »
EUR/GBP bulls need patienceWe believe the Bank of England (BoE) took a step in the direction of an August rate cut last week, even though core policy communication did not change meaningfully, FX Strategist at ING Francesco Pesole notes.
Read more »
EUR/GBP trades lower as French election risks and weak German data weighEUR/GBP is trading lower in the 0.
Read more »