Mixed sentiment sees Euro-Pound currency pair ending the session broadly flat; establishes tight 0.8793 to 0.8805 range

Published: January 26 2023, 04:20 GMT+0

Mixed sentiment sees Euro-Pound currency pair ending the session broadly flat; establishes tight 0.8793 to 0.8805 range

EUR/GBP posts light gains on a low-volatility day, ranging between 0.8793 – 0.8805 and is now at 0.88.

On the flip side, new Business Climate Index data from Germany matched market expectations with a reading of 90.2 — a positive step in contrast to previous data of 88.6 from last month.

At the same time, data for France Jobseekers Total released yesterday at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million. Germany Business Expectations came out at 86.4, better than analyst estimates of 85 and improving upon the previous reading of 83.2.

Meanwhile, EUR/JPY closed at 141 (down 0.26%). After ending yesterday's session at 129.51, USD/JPY lost 34 pips and is trading around 129.16. GBP/JPY is down to 160.17, losing 42 pips, after closing at 160.6 in the preceding trading session.

Also worthy of note, Euro Zone ECB President Lagarde speech will be released tomorrow at 10:30 UTC. Spain GDP is expected tomorrow at 08:00 UTC. United Kingdom Labour Productivity is expected today 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 10.06% below this level.

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