The EUR/GBP cross trades with mild losses around 0.8440 during the early European session on Monday.
EUR/GBP drifts lower to near 0.8440 in Monday’s early European session. ECB policymakers said the central bank must be prudent with rate cuts given high uncertainty. Softer inflation and slower growth in the UK economy pave the path for BoE rate cuts. Thedownbeat UK economic data boost the interest rate cut bets from the Bank of England , weighing on the Pound Sterling against the Euro . Traders will keep an eye on Germany’s December Producer Price Index , which is due later on Monday.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England.
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