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Hits its lowest level since August

EURGBP
  • Following the more dovish than expected ECB - with less push back on rate cuts than many investors had expected - and general strength in GBP continuing from yesterday's hawkish PMI data (better outlook for growth but also higher prices), we have seen EURGBP hit its lowest intraday level since August today.
  • EURGBP hit a low today of 0.8521, around 34 pips below yesterday's close.
  • 0.8493 (the August 2023) marks the bear trigger for the cross, below which markets are at levels not seen since mid-2022.

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