EUR/GBP corrective bounce from yearly low prods 0.8600 as traders recheck ECB vs. BoE formula – by anilpanchal7 EURGBP Brexit ECB BOE RiskAversion
executive board member Fabio Panetta also allow the quote to lick its wounds. That said, the policymaker said, “We have not reached the end of the rate hike cycle.”
On the same line are the headlines from the Financial Times stating that the UK should join a pan-European agreement on goods trade to limit the damage to its car industry from looming post-Brexit tariffs instead of seeking a delay to their introduction, according to senior officials in Brussels. On Thursday, the UK S&P Global/CIPS Manufacturing PMI improved to 47.1 for May versus 46.9 initial estimations. Further, the latest Bank of England Monthly Decision Maker Panel survey, released on Thursday, businesses in the UK see the year-ahead Consumer Price Index at 5.9% in May vs 5.6% in April. On the other hand,Inflation, per the European Central Bank's preferred gauge of inflation, namely the annual Harmonised Index of Consumer Prices , rose 6.1% YoY in May versus 6.
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