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May 17, 2023Although EUR/GBP ended yesterday strong and rose from 0.87 to 0.8721, it dropped back today and is now priced at 0.8682.
Euro-Pound is currently trading at 0.8682 following the release of BoE Gov Bailey speech data from the United Kingdom.
While price action maintains a negative bias, Euro Zone Consumer Price Index came out at 7%, while a consensus of analysts was expecting 7%. United Kingdom Claimant Count Change (Apr) released yesterday at 06:00 UTC with a figure of 46,700, while the previous figure was 26,500. New United Kingdom Average Earnings Index +Bonus data was unchanged from the previous month and matched analyst projections of a reading of 5.8.
In the meantime, negative performances are also seen in other pairs as EUR/NZD drops 0.77% to trade around 1.7297. GBP/NZD drops 0.49% to trade around 1.9922.
Positive performances can be seen by looking at other currencies as having closed the previous session at 136.36, USD/JPY is up 0.56% today to currently trade at around 137.12.
Furthermore, Euro Zone ECB President Lagarde speech will be released tomorrow at 09:00 UTC. United Kingdom BoE MPC Treasury Committee Hearings scheduled to come out tomorrow at 09:15 UTC. Euro Zone ECB's De Guindos speech set for tomorrow at 06:30 UTC.
Trading mostly sideways for 3 months. Euro-Pound is now trading 11.09% away from its significant high of 0.9785 first tested 7 months ago.
