Stagnant Euro-Pound peaks at 0.8783 amid sluggish price action

Published: March 19 2023, 15:50 GMT+0

Stagnant Euro-Pound peaks at 0.8783 amid sluggish price action

A quick look at Friday: EUR/GBP ended Friday at 0.8759 following from closing Thursday at 0.8761. Overall, this represents a loss of 2 pips or 0.03%.

Euro-Pound's value drop coincided with the fact that USD/JPY falls 1.33% Friday and closed at 133.59. After ending Friday's session at 1.3456, USD/SGD lost 59 pips and is trading around 1.3397. EUR/NZD lost 0.75% Friday and closed at 1.7137.

Furthermore, tomorrow at 07:00 UTC data for Germany Producer Price Index will be released, with an expected decline to -1.6% from the preceding figure of -1%. Euro Zone Trade Balance (Jan) is scheduled for tomorrow at 10:00 UTC.

Trading mostly sideways for a month. Having set a peak of 0.9785 around 5 months ago, Euro-Pound is now trading 10.46% below this level.

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