EUR/GBP

EUR/GBP trades on the defensive on Thursday, remaining on the back foot for the fifth consecutive day following last week’s rejection from the 0.8600 psychological mark. At the time of writing, the cross trades around 0.8537, its lowest level since mid-August.

Chris Turner at ING discusses the British Pound as EUR/GBP moves noticeably lower, suggesting emerging Euro weakness and a changing UK narrative. He highlights UK Prime Minister Andy Burnham’s speech on moving closer to Europe, including a possible push to rejoin the EU after the next election.

The Euro (EUR) ticks up against the British Pound (GBP) on Thursday, yet with the immediate bearish trend intact, after having depreciated about 0.8% over the previous three days.

RaboResearch Global Economics & Markets’ FX Strategy team assesses EUR/GBP in light of UK politics, growth and monetary policy. They note the Pound’s recent support from stronger UK GDP, but expect GBP bulls to stay cautious ahead of the October 28 budget.

The Euro (EUR) is dropping sharply against the British Pound (GBP) on Wednesday, as UK data has endorsed recent claims by Bank of England (BoE) officials to hike interest rates, while German data disappointed on Wednesday.

The Euro (EUR) extends losses for the fourth consecutive day against the British Pound (GBP) on Wednesday, as German retail consumption figures failed to cheer investors while the UK Q2 Gross Domestic Product (GDP) was revised higher.