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Dec 29 - 08:55 AM

EUR/GBP - Rises Towards 11-Week High As Year-End Looms

By Rob Howard  —  Dec 29 - 07:50 AM
  • EUR/GBP reaches 0.8850 after extending north from 0.8795 (Wednesday's low)

  • Hawkish ECB expectations are key source of support for the euro

  • ECB looks set to raise rates by 50 bps in February and March

  • 0.8863 (Tuesday's 11-week high) is a EUR/GBP resistance level

  • Tuesday's high was two pips shy of the Q4 peak (scaled on Oct 12)

Source:
Refinitiv IFR Research/Market Commentary

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