January 11, 2024 – Written by James Fuller
Leave a comment STORY LINK Pound to Euro Rate Edges Lower on Hawkish ECB Rhetoric
Sterling overall has been held in narrow ranges during Wednesday.
The Pound to Dollar (GBP/USD) exchange rate found support below 1.2700, but stalled below 1.2750 and traded around 1.2735.
The Pound to Euro (GBP/EUR) exchange rate edged lower to just above 1.1615.
ECB Council member Schnabel stated that financial conditions have eased and it was too early to talk about interest rate cuts which hampered GBP/EUR support.
Schnabel added;…
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