The EUR/GBP cross trades in positive territory around 0.8340 on Tuesday during the early European session.
EUR/GBP strengthens to near 0.8340 in Tuesday’s early European session. ECB’s Wunsch said it is premature to discuss December policy decision. BoE is likely to cut its rate by a quarter-point in the November meeting to 4.75%, according to a Reuters poll. The comments from the European Central Bank policymaker Pierre Wunsch lift the Euro against the Pound Sterling .
ECB FAQs What is the ECB and how does it influence the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa.
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