The EUR has strengthened against GBP during Tuesday morning trading. This spike has pushed the pair back towards 1.25 on the exchange and has helped to curb yesterday’s losses, which saw GBP/EUR trade at a high of 1.2655. It’s been a volatile few days for the currency pair with spikes in both directions and although the EUR has found support in the higher 1.20’s, I do anticipate a major run for the single currency under current market conditions.
Tomorrow is likely to be a key day, with the latest Bank of England (BoE) minutes due out at 0.930, along with latest UK unemployment rate. We also have the latest Eurozone inflation data out, so expect a busy day for the EUR.
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