The EUR/GBP currency pair has softened below the key level of 0.8850, currently trading near 0.8820 during the early European session on Thursday. This decline reflects a loss of momentum amid shifting market sentiment. The ongoing pressure on the exchange rate is attributed to a series of disappointing economic data from the UK, which has raised expectations for a potential interest rate cut by the Bank of England (BoE) in December.
As traders weigh the implications of the BoE's monetary policy outlook, the potential downside for the EUR/GBP cross may be limited. A rate cut could further weaken the British pound, influencing the exchange rate dynamics between the euro and the pound. Market participants will continue to monitor economic indicators and central bank communications closely, as these factors will play a crucial role in shaping future trading strategies.
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Data Source: FX Killer Analysis Team Updated: 2025-11-20 07:40
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.