March 19, 2024 – Written by John Cameron
STORY LINK Pound Sterling Retreats Against Euro and Dollar as Long Positions Trimmed
The Pound to Euro exchange rate (GBP/EUR) was unable to make headway on Friday and retreated below the 1.1700 level on Monday to trade around 1.1685.
MUFG is still backing a medium-term GBP/EUR move to 1.2085.
The Pound has been hampered by speculation that the Bank of England (BoE) will adopt a less hawkish stance at this week’s policy meeting.
COT data released by the CFTC reported an increase…
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