June 8, 2023 – Written by John Cameron
Leave a comment STORY LINK Pound Euro (GBP/EUR) Exchange Rate Rangebound amid EU Recession Confirmation
Pound Euro (GBP/EUR) Exchange Rate Rangebound amid EU Recession Confirmation
The Pound Euro (GBP/EUR) exchange rate traded within narrow boundaries on Thursday, as a downward EU GDP revision pointed to a recession in the bloc.
At the time of writing, GBP/EUR traded at around €1.1618, showing little movement from Thursday’s opening rates.
Euro (EUR) Capped by Downward GDP Revision
The Euro (EUR) saw its gains capped on Thursday, by a surprise downward revision in the Eurozone’s first quarter GDP data.
The third estimate…
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