The EUR/GBP pair falls back after failing to recapture the psychological resistance of 1.2500.
EUR/GBP drops from 0.8500 after the annual Eurozone headline HICP decelerated expectedly to 2.5%. ECB Muller sees further policy easing before year-end. The BoE is expected to start reducing interest rates in August. The cross retreats after the preliminary Eurozone Harmonized Index of Consumer Prices report shows that price pressures were mixed in June. According to the preliminary HICP report, headline HICP decelerated expectedly to 2.5% year-on-year from May’s reading of 2.6%.
” On the political front, the smaller-than-expected lead of Marine Le Pen's far-right National Rally in the first round of France’s legislative elections against the Centralist alliance and Leftist has eased uncertainty over the deepening financial crisis. However, these fears could revamp again if the second-round runoffs result new government formation.
France Dernières Nouvelles, France Actualités
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