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Feb 09 - 05:55 AM

EUR/GBP - Eases After German CPI Softer Than Expected

By Rob Howard  —  Feb 09 - 03:35 AM
  • EUR/GBP falls to 0.8861 after softer than expected German inflation data

  • German CPI up 8.7% YY vs 8.9% f/c. 0.8861 is lowest level since Feb 1

  • 0.8875 was Wednesday's low (0.8978 was 18-week high on Feb 3) nL1N34O14G

  • Bids may emerge near 0.8850 (GBP/EUR 1.13) if EUR/GBP extends south

  • 0.8850 is also 50% retracement of 0.8723 (Jan 19 low) to 0.8978

  • Four BoE MPC members, including Bailey, to address UK TSC from 0945 GMT

Source:
Refinitiv IFR Research/Market Commentary

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