Is it the end of Euro-Pound's rally? After five days of gains, it is down by 0.28% today

Published: January 25 2023, 21:21 GMT+0

Is it the end of Euro-Pound's rally? After five days of gains, it is down by 0.28% today

Slightly weaker but mostly flat: EUR/GBP is currently trading at 0.88 as it maintains an active range between 0.88 and 0.8852.

Highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

Meanwhile, United Kingdom Services PMI came out at 48, while a consensus of analysts was expecting 49.6. United Kingdom Composite PMI released yesterday at 09:30 UTC with a figure of 47.8, while the previous figure was 49.

In the meantime, negative performances are seen in other pairs, USD/SGD closed at 1.3129 (down 0.49%).

Positive performances can be seen by looking at other currencies as GBP/NZD gained 0.82% and is now trading at 1.9128. GBP/CAD is up 0.73% to 1.66.

Furthermore, United Kingdom Labour Productivity will be released tomorrow at 09:30 UTC.

Trading mostly sideways for a month. Having set a peak of 0.9785 around 3 months ago, Euro-Pound is now trading 9.8% below this level.

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