EUR/GBP rebounds sharply from multi-month lows to 0.8600 EURGBP Majors Currencies
HICP and CPI data from Germany and Spain are due on Tuesday.EUR/GBP
rose by 70 pips towards the 0.8605 area recovering from the multi-month low struck on Friday. With nothing relevant in the macroeconomic calendar, stocks set the session’s pace with the German DAX displaying more than 0.90% gains while investors await inflation data from Germany and Spain and labour market data from the UK on Tuesday.On Tuesday, Destatis, the national statistical office of Germany, is set to release the Harmonized Index of Consumer Prices data for the month of May.
Ahead of next week’s Bank of England decision, investors are expecting a 25 bps hike with only 15% odds of a bigger one as per World Interest Rate Possibilities . On Monday, BoE’s Catherine Mann delivered slightly hawkish messages, showing her concerns for sticky core inflation and stating that she is waiting forEUR/GBP levels to watch
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