The EUR/GBP wobbles near an intraday high around 0.8350 in Wednesday’s New York session.
EUR/GBP exhibits a volatile performance amid the announcement of UK Labour’s first budget announcement. The UK administration has announced significant spending plans for various sectors. The Euro performs strongly on upbeat Eurozone Q3 GDP growth and hot German inflation. The cross trades volatile amid the announcement of the United Kingdom Autumn Forecast Statement by Chancellor of the Exchequer Rachel Reeves.
Meanwhile, the Office for Business Responsibility has upwardly revised the Consumer Price Index forecast to 2.5% in 2024, from 2.2% announced in March. The cross performs strongly in North American trading hours due to upbeat Euro . The shared currency pair strengthened after the release of the Eurozone flash Gross Domestic Product data, which showed that the economic growth was faster-than-expected in the third quarter of the year. The Eurozone economic output rose by 0.
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