EUR/GBP hovers around 0.8560 during the Asian session on Monday, struggling to hold ground due to the possibility of an interest rate hike by the Euro
Investors await ECB Lagarde’s speech, seeking further cues on the economic outlook.
EUR/GBP hovers around 0.8560 during the Asian session on Monday, struggling to hold ground due to the possibility of an interest rate hike by the. The cross pair is under downward pressure as investors exercise caution, fearing that additional monetary tightening by the ECB could potentially tip the Eurozone's economy into a recession.
Additionally, the member of the ECB Governing Council, Pierre Wunsch points to ongoing inflation as a factor for advocating the necessity of further tightening of monetary policy. Pierre stated "I'm leaning towards the idea that we might need to take further action," during a radio interview broadcast by Bloomberg on Saturday.
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