EUR/GBP continues to gain ground for the second consecutive session, trading around 0.8400 during the Asian hours on Tuesday.
EUR/GBP gains ground as the ECB could maintain the main refinancing rate at 4.25% at Thursday’s meeting. The Pound Sterling may appreciate further as investors consider UK markets to be a more attractive investment option. BoE may initiate reducing interest rates at the August meeting. However, the EUR/GBP cross still remains close to 0.8386, the lowest level since August 2022 recorded on Monday. The Euro finds support from bullish expectations surrounding the European Central Bank .
Additionally, the Retail Price Index is likely to see a decline, marking the fourth drop in five months. Interest rates FAQs What are interest rates? Interest rates are charged by financial institutions on loans to borrowers and are paid as interest to savers and depositors. They are influenced by base lending rates, which are set by central banks in response to changes in the economy.
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