EUR/GBP aims to surpass 0.8700 as ECB Lagarde sees inflation too high for so long
Finance EUR/GBP aims to surpass 0.8700 as ECB Lagarde sees inflation too high for so long Il y a 14 secondes Nouvelles Bitcoin Ethereum EUR/GBP eyes fresh upside above 0.8700 as ECB Lagarde sees inflation risks skewed upside. Eurozones headline and core inflation are seen softening to 4.5% and 4.8% respectively. The BoE unexpectedly paused interest rate hikes last week amid potential slowdown risks. The EUR/GBP pair gathers strength to surpass the immediate resistance of 0.8700 in the late European session. More upside is anticipated in the cross as European Central Bank (ECB) President Christine Lagarde said that despite progress on inflation it is seen as too high for too long as the labor market has so far remained resilient. This week, investors will focus on the Eurozone preliminary Harmonized Index of Consumer Prices (HICP) for September, which will be published later this week. The headline and core inflation are seen softening to 4.5% and 4.8% respectively. The asset has been consistently moving higher for the past three trading sessions as the Bank of England (BOE) surprisingly paused the policy-tightening spell on Thursday while investors anticipated an interest rate hike by 25 basis points (bps). BoE Governor Andrew Bailey skipped hiking interest rates after raising them consecutively for 14 times