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

Published: January 26 2023, 04:56 GMT+0

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

Currently trading at 0.88, EUR/GBP remains range-bound between 0.8793 and 0.8805.

On the flip side, highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

Meanwhile, 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. Data for Germany Business Expectations published yesterday at 09:00 UTC came out at 86.4, beating projections of 85 and showing improvement over the preceding figure of 83.2.

At the same time, EUR/JPY is down 26 pips from the beginning of the session and now trades around 141.09. GBP/JPY is down 31 pips from the beginning of the session and now trades around 160.29. After ending yesterday's session at 129.51, USD/JPY lost 23 pips and is trading around 129.27.

Elsewhere, Euro Zone ECB President Lagarde speech is expected tomorrow at 10:30 UTC. Spain GDP figure is projected at 0.1. It previously stood at 0.1; data will be released tomorrow at 08:00 UTC. United Kingdom Labour Productivity will be released today at 09:30 UTC.

Trading mostly sideways for a month. Euro-Pound is now trading 10.06% away from its significant high of 0.9785 first tested 3 months ago.

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