Weak sentiment sees Euro-Pound posting 0.19% loss

Published: May 27 2023, 02:46 GMT+0

Weak sentiment sees Euro-Pound posting 0.19% loss

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 0.8687.

On the flip side, positive data for Euro-Pound released earlier when United Kingdom Retail Sales improved upon its previous reading of -1.2% with a new data release of 0.5%.

Amid the market gloom, 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. Fresh CFTC EUR speculative net positions data from Euro Zone came out at 173,700.

Positive performances can be seen by looking at other currencies as GBP/NZD is trading around 2.0417 after ending yesterday's session at 2.0311 (up 0.52% today). GBP/JPY rallies 0.64% yesterday and closed at 172.53. USD/JPY rises 0.41% yesterday and closed at 140.05.

Trading mostly sideways for 3 months. Euro-Pound is now trading 11.06% away from its significant high of 0.9785 first tested 7 months ago.