January 8, 2025 – Written by David Woodsmith
STORY LINK Pound to Euro Holds Near 1.2050
Stronger-than-expected inflation data from Germany and Spain on Monday triggered Euro buying, but the French and Italian releases were weaker on Tuesday and the Euro-Zone data was in line with consensus forecasts.
Traders were expecting stronger data and the Euro corrected lower, although there was still an important element of short covering after sharp EUR/USD selling late last year.
In this environment, the Pound to Euro (GBP/EUR) exchange rate nudged above the 1.2050 level, but remained in tight…
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