Euro-Pound lost 0.2% yesterday, ending at 0.8686

Published: May 27 2023, 07:30 GMT+0

Euro-Pound lost 0.2% yesterday, ending at 0.8686

Yesterday at a glance: Euro-Pound dipped as low as 0.8675 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (0.8703) with EUR/GBP closing the day at 0.8686.

Nonetheless, encouraging indicators for Euro-Pound published earlier when highly important Retail Sales data from United Kingdom beat analyst expectations of 0.4% with a reading of 0.5%.

While price action maintains a negative bias, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 11,600, while the previous figure was 12,600. Euro Zone CFTC EUR speculative net positions came out at 173,700.

Though Euro-Pound has been dropping, other pairs have been performing better: GBP/NZD surges 0.52% yesterday and closed at 2.0311. GBP/JPY added 0.64% and closed around 172.53 yesterday. Notably, EUR/JPY rose 0.43% yesterday and closed at 150.22.

Trading mostly sideways for 3 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 11.06% below this level.