EUR/GBP rises above 0.8600 following hawkish comments from ECB’s Lagarde

Source Fxstreet
  • EUR/GBP rises as ECB President Lagarde signals readiness to take all necessary measures to achieve the inflation target.
  • A senior ECB official warned that excessive Euro strength could drive inflation below the ECB’s 2% target.
  • UK PM Starmer confirmed that Chancellor Reeves will remain in her role for a very long time to come.

EUR/GBP inches higher after registering 0.50% losses in the previous session, trading around 0.8610 during the early European hours on Friday. The currency cross attempts to regain its ground as the Euro (EUR) may appreciate against its peers, following the comments from the European Central Bank (ECB) President Christine Lagarde.

President Lagarde said that “we will do whatever we must do to reach the inflation target.” She also added that the economic system needs to become more efficient before the Euro can boost its global currency status. The Financial Times (FT) cited a senior ECB official, saying that the central bank may need to signal that too much strengthening in the Euro could be an issue, as it could push inflation below the ECB’s 2% target level.

However, the EUR/GBP cross may extend its losses as the Pound Sterling (GBP) receives support amid easing market concerns over a shift to a looser fiscal stance with higher borrowing, following speculation about a potential replacement for Chancellor Rachel Reeves. UK Prime Minister Keir Starmer addressed these concerns by defending Reeves and affirming that she will remain in her role “for a very long time to come.”

The Bank of England (BoE) is expected to deliver an interest rate cut in August, taking the central bank’s base rate to 4%, following dovish remarks from officials. BoE Governor Andrew Bailey told CNBC on Tuesday that interest rates should come down gradually as inflationary pressures appear to be easing. However, BoE policymaker Alan Taylor said that “I don't think bigger cuts are necessarily needed or desirable.”

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.11% -0.06% -0.39% 0.07% 0.41% 0.20% -0.20%
EUR 0.11% 0.09% -0.24% 0.24% 0.40% 0.32% -0.04%
GBP 0.06% -0.09% -0.34% 0.12% 0.34% 0.24% -0.13%
JPY 0.39% 0.24% 0.34% 0.46% 0.67% 0.53% 0.09%
CAD -0.07% -0.24% -0.12% -0.46% 0.20% 0.11% -0.25%
AUD -0.41% -0.40% -0.34% -0.67% -0.20% -0.13% -0.45%
NZD -0.20% -0.32% -0.24% -0.53% -0.11% 0.13% -0.37%
CHF 0.20% 0.04% 0.13% -0.09% 0.25% 0.45% 0.37%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum Price Tests Resistance — Breakout Could Spark RallyEthereum price started a fresh increase above the $2,480 zone. ETH is now consolidating gains and might soon aim for a move above the $2,520 resistance. Ethereum started a fresh upward move above the
Author  NewsBTC
6 Month 30 Day Mon
Ethereum price started a fresh increase above the $2,480 zone. ETH is now consolidating gains and might soon aim for a move above the $2,520 resistance. Ethereum started a fresh upward move above the
placeholder
This Altcoin Looks Like PEPE Before It Exploded, Analyst SaysA cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a
Author  NewsBTC
Yesterday 02: 27
A cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a
placeholder
Analyst Says Cycle Is Not Finished Amid 2 Years Of Bitcoin Sideways MovementBitcoin (BTC) is now 195 days into its latest sideways movement, which is part of a broader two-year stretch marked by sluggish price action and short-lived rallies. According to a crypto analyst,
Author  NewsBTC
Yesterday 02: 30
Bitcoin (BTC) is now 195 days into its latest sideways movement, which is part of a broader two-year stretch marked by sluggish price action and short-lived rallies. According to a crypto analyst,
placeholder
Gold price edges up as the post-NFP USD rally falters amid US fiscal concernsGold price (XAU/USD) attracts some dip-buying during the Asian session on Friday and for now, seems to have stalled its retracement slide from a one-and-a-half-week high touched the previous day.
Author  FXStreet
8 hours ago
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Friday and for now, seems to have stalled its retracement slide from a one-and-a-half-week high touched the previous day.
placeholder
Stablecoin market cap unlikely to hit $2 trillion by 2028: JPMorganIn a note to investors on Thursday, JPMorgan Chase estimated that the stablecoin market could reach $500 billion by 2028, a modest prediction compared to popular forecasts of a $1-$2 trillion market capitalization increase over the same period.
Author  FXStreet
8 hours ago
In a note to investors on Thursday, JPMorgan Chase estimated that the stablecoin market could reach $500 billion by 2028, a modest prediction compared to popular forecasts of a $1-$2 trillion market capitalization increase over the same period.
Related Instrument
goTop
quote