The EUR/GBP pair struggles to extend recovery above the immediate resistance of 0.8450 in Tuesday’s early European session.
EUR/GBP lacks strength to extend its recovery above 0.8450 as France faces political uncertainty. ECB Knot supports for keeping interest rates steady in July but is open for the September meeting. The Pound Sterling remains firm as UK Keir Starmer’s victory brings political stability.
However, he said that he is comfortable with market expectations of more rate cuts this year and he is open for the September meeting. In the United Kingdom region, the uncertainty over the Bank of England to begin reducing interest rates from the August meeting has deepened. On Monday, BoE policymaker Jonathan Haskel supported for leaving interest rates unchanged for long as price pressures remain firm in the labor market.
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