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May 23, 2023Euro-Pound trades at 0.8706 after gaining 13 pips (0.16%).
Euro-Pound is currently trading at 0.8706 following the release of BoE Gov Bailey speech data from the United Kingdom.
Meanwhile, United Kingdom Manufacturing PMI came out at 46.9, while a consensus of analysts was expecting 48. United Kingdom Composite PMI released today at 08:30 UTC with a figure of 53.9, while the previous figure was 54.9. United Kingdom Services PMI released today at 08:30 UTC with a figure of 55.1, while the previous figure was 55.9.
Elsewhere, other currency pairs are also gaining ground as USD/CHF gained 0.33% and is now trading at 0.9007.
Meanwhile, after ending yesterday's session at 172.27, GBP/JPY lost 81 pips and is trading around 171.45. EUR/JPY stumbles 0.37% to trade around 149.27.
Positive indicators for Euro-Pound are expected going forward as Germany Business Climate Index projected to come out at 93 — worse than previous data of 93.6; data will be released tomorrow at 08:00 UTC.
Furthermore, the market is looking at United Kingdom Consumer Price Index figure is projected at 8.3%. It previously stood at 10.1%; data will be released tomorrow at 06:00 UTC. United Kingdom BoE Gov Bailey speech is scheduled for tomorrow at 13:00 UTC.
Trading mostly sideways for 3 months. Euro-Pound is now trading 11.16% away from its significant high of 0.9785 first tested 7 months ago.
