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The direction of Euro/ GBP

For the third session in a row, the EUR/GBP pair is seeing a decline, hovering around 0.8570 during Thursday's European session. This drop is attributed to the Pound Sterling (GBP) gaining traction, with market expectations leaning towards the Bank of England (BoE) holding off on interest rate reductions until the next quarter, as suggested by median forecasts.
Huw Pill, the Chief Economist at the Bank of England, remarked that while the possibility of interest rate cuts has moved closer over time and with no adverse inflation news, they are still not imminent.

Dr. Kamaran Qader Yaqub,
Fundamental Analyst and Financial consultant at Investment Spot company.

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