EUR/GBP rises to multi-month highs after German inflation data, BoE decision looms

At the beginning of the week, the EUR/GBP cross gathered momentum and jumped to its highest level since early May, near 0.

EUR/GBP rose toa high around 0.8740, it highest level since May. German CPI from October camein lower than expected at 3.8% YoY; Q3 GDP preliminary estimates beat expectations. All eyes are on Thursday's BoE meeting; no rate hikes are priced in. 8740. On the one hand, the Euro seems to be getting traction after the report of better-than-expectedGross Domestic Product while soft inflation figures from October failed to trigger a reaction.

In addition, the Monetary Policy Committee vote split and Andrew Bailey's words will be closely looked by investors in order to continue placing their bets for the next meeting. Furthermore, the bank will release fresh macroeconomic forecasts, which will also be important as the British economy has faced also challenges, and the bank's outlook may further impact the Pound.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

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 extends gains near 0.8720 ahead of German dataEUR/GBP extends gains on the second successive day, trading near 0.8720 during the early European session on Monday. The cross pair receives upward su
Read more »

GBP/USD Price Analysis: Consolidates above 1.2100 ahead of Fed, BoE decisionsGBP/USD hovers around the 1.2120 level with a negative tone during the Asian session on Monday. The pair moves sideways ahead of the policy meetings o
Read more »

Pound Sterling remains calm as focus shifts to BoE monetary policy meetingThe Pound Sterling (GBP) struggles to find a direction on Monday as investors await the interest rate decision from the Bank of England (BoE) for furt
Read more »

Pound Price Forecast: Upcoming BoE Expectations Keep GBP SubduedGBP prices stay suppressed ahead of both the Fed and BoE interest rate decisions later this week.
Read more »

High inflation and slowdown signs: the BoE's tough trade-offHigh inflation and slowdown signs: the BoE's tough trade-off
Read more »