EUR/GBP stays sideways near 0.8500 as investors await the Eurozone Inflation data. The Eurozone inflation data will influence the ECB ’s rate-cut path beyond June. Exit polls for UK elections suggest that the Labour Party will come into power. Investors remain certain about the European Central Bank to begin reducing interest rates from the June meeting. Therefore, financial markets are discussing about how fast and far the ECB will cut interest rates beyond June.
This week, investors have shifted focus to the United Kingdom election campaigns due to the absence of top-tier economic data. Exit polls show that the Labour Party will come in power after almost 15 years. The Pound Sterling could remain slightly volatile due to market expectations for elections but its impact on the monetary policy is expected to light.
Source: News Formal (newsformal.com)
ECB BOE Inflation Electionuk
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