October 8, 2024 – Written by Tim Boyer
STORY LINK German Woes Sap Euro Support, GBP to EUR Rate Holds Around 1.1950
The Pound to Euro (GBP/EUR) exchange rate has consolidated around 1.1950 despite a more fragile risk environment with Pound sentiment holding firm despite weaker equities while the Euro has again been hit by dismal data.
The latest COT data, reported by the CFTC, recorded an increase in long Pound positions to near 94,000 contracts from 87,000 the previous week, maintaining the risk that long positions could be liquidated, especially if…
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