March 8, 2024 – Written by David Woodsmith
STORY LINK Pound to Euro Rate Tests Three-Week Best as Global Euphoria Lifts Sterling
Benign global risk conditions and expectations of an ECB rate cut ahead of the Bank of England (BoE) have underpinned the Pound in global markets with the Pound to Euro (GBP/EUR) exchange rate strengthening to 3-week highs just below 1.1740.
There is likely to be further strong resistance on any GBP/EUR move to 1.1765 and a slide in risk appetite would also hurt the Pound.
The dollar has weakened…
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