EUR/GBP holds firm on Friday, with the Euro (EUR) modestly outperforming the British Pound (GBP) as weak UK Gross Domestic Product (GDP) data reinforced signs of a slowing economy. At the time of writing, the cross trades around 0.8633, up from an intraday low of 0.8625.
Deutsche Bank’s European economists highlight that the ECB delivered its first rate hike since 2023, lifting the deposit rate to 2.25% and pairing it with hawkish messaging from President Lagarde.
The GBP/JPY cross regains positive traction following the previous day's good two-way price moves and sticks to intraday gains through the first half of the European session on Friday.