Yesterday's lacklustre market sentiment sees Euro-Pound drop 0.2%

Published: May 27 2023, 08:31 GMT+0

Yesterday's lacklustre market sentiment sees Euro-Pound drop 0.2%

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 0.8686.

In contrast, positive data for Euro-Pound reported earlier when United Kingdom Retail Sales beat the 0.4% projections, with 0.5%.

While price action maintains a negative bias, 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. Euro Zone CFTC EUR speculative net positions came out at 173,700.

Positive performances can be seen by looking at other currencies as GBP/NZD added 0.52% and closed around 2.0311 yesterday. Notably, GBP/JPY rose 0.64% yesterday and closed at 172.53. USD/JPY is trading around 140.62 after ending yesterday's session at 140.05 (up 0.41% today).

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.