The EUR/GBP remained close to the 0.85 mark during yesterday’s session, Danske Bank’s currency analysts report.
The growth of the United Kingdom and moderate inflation risks weigh on the BOE
“The price action is still dominated by the appetite for risk, since national data publications are scarce in the week that is coming. While retail sales continue to surprise up in recent months, PMI data suggests more tentative signals of a more stagnant environment in the United Kingdom.”
“The services sector fell into contraction territory, while the activity in the manufacturing sector remains moderate. Price pressures increased both in supplies and output prices. The most moderate growth perspective and higher price components represent a problem for the BOE.”
“There seems to be a moderate tone within the MPC, which we hope is repeated at the next week.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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