Weak sentiment sees Euro-Pound posting 0.19% loss

Published: May 26 2023, 22:40 GMT+0

Weak sentiment sees Euro-Pound posting 0.19% loss

EUR/GBP weakened earlier in the day, before moving away from its 0.8675 low and recovering back to 0.8687.

On the flip side, positive data for Euro-Pound released earlier when highly important Retail Sales data from United Kingdom beat analyst expectations of 0.4% with a reading of 0.5%. Highly important GDP data from Germany beat analyst expectations of -0.1 with a reading of -0.3.

While price action maintains a negative bias, United Kingdom CFTC GBP speculative net positions released today at 20:30 UTC with a figure of 11,600, while the previous figure was 12,600.

Though Euro-Pound has been dropping, other pairs have been performing better: GBP/JPY is up 0.66%. GBP/NZD is up 0.47% to 2.0406. Having closed the previous session at 140.05, USD/JPY is up 0.41% today to currently trade at around 140.62.

Trading mostly sideways for 3 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 11.06% below this level.