The Euro rises to near 0.8645 against the Pound as traders await the European Central Bank’s upcoming policy announcement.
The Euro extended its rally against the British Pound for a sixth straight session, approaching last week’s peak of 0.8645. Sterling faced broad selling pressure amid uncertainty over the new UK cabinet’s fiscal plans and spending strategies.
Prior to this rally, the EUR/GBP pair had traded in a tight range, with the Pound struggling to regain momentum following political shifts. Market focus remains on the ECB’s monetary policy decision, which could influence further currency movements.
No immediate market reaction was specified, but traders are closely monitoring the ECB’s tone for future rate expectations.