GBP: Sterling performs well – ING
Source Fxstreet
It's interesting to see EUR/GBP still trading quite softly despite some better news on global trade, ING's FX analyst Chris Turner notes.
Sterling holds firm as EUR/GBP trades soft
"By nature of the UK's better trade position with the US and the fact that the UK has a trade deal, EUR/GBP normally should trade better bid on positive trade news. No doubt sterling's relatively high interest rates (4.30% per annum on a one-week deposit, versus 2.2% for the euro) are helping here. And there seems to be less fear over a tough UK government spending review on 11 June."
"EUR/GBP looks comfortable down here in the 0.8350-0.8400 area."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
The dream of seeing Dogecoin trade at $1 remains alive among its community of loyal investors, even as the meme coin continues to struggle below the $0.20 mark.
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
The Pound Sterling (GBP) drops to near 1.3475 against the US Dollar (USD) in Friday’s European trading session.
Related Instrument
