Home›Forex›Major Pairs›EUR/GBP holds near 0.8488 as euro weakness pauses afte…

EUR/GBP holds near 0.8488 as euro weakness pauses after selloff

The cross trades around 0.8488, slightly above Monday’s low of 0.8458, with the move linked to euro weakness tied to concerns about France’s fiscal position.

Reported · Written up by our desk · Major Pairs

EUR/GBP traded with a tug of war between gains and losses on Tuesday, pausing a seven-day selloff as the euro weakened sharply, while concerns over France’s fiscal position weighed on sentiment, according to FXStreet.

At the time of writing, the cross was around 0.8488, virtually unchanged on the day and hovering above Monday’s low of 0.8458, its weakest level since July, with FXStreet also pointing to a light economic calendar behind subdued price action.

FXStreet included a view from Rabobank, saying the bank revised lower its EUR forecasts across the board and described the broader backdrop as challenging, even as it noted Europe’s situation is different from prior crises.

More like this

Sources