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EUR Creeps Higher Into Close as Markets Trim ECB Pricing

EUR
  • As BBG headlines flag, the ECB market pricing across '24 is factoring out 6 x 25bps rate cuts this year, a move that's helping EUR toward the higher levels of the session, putting EUR/USD through earlier highs and within range of Tuesday's 1.0966.
  • On a similar footing, EUR/GBP tips back to positive on the day having traded slightly softer through early US hours - day's highs of 0.8617 are just above, but the uptick is already fading at typing.
  • Worth recalling the spate of USD buying through the WMR fix yesterday - pressure that put most major pairs at new daily lows through 4pm UK time.

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