7 Aug 2015
EUR/GBP ends week higher near 0.7100
FXStreet (Córdoba) - EUR/GBP broke above 0.7045 on Friday and rose further reaching a 1-week high at 0.7095. The pair has been trading steady during the last hours, hovering around 0.7080; about to post a weekly gain of 70 pips.
EUR/GBP boosted by a weak pound
The pair dropped on Wednesday to 0.6950, the lowest in two weeks. Bu then the pound dropped sharply across the board after the Inflation Report and the minutes from the Bank of England signaled that rates could remain at current levels longer than expected.
On “Super Thursday” EUR/GBP climbed back above 0.7000 and gained further on Friday, risen above the level it had a week ago. The pair is about to end the week testing the 0.7100 area (July 29, 31 highs).
EUR/GBP boosted by a weak pound
The pair dropped on Wednesday to 0.6950, the lowest in two weeks. Bu then the pound dropped sharply across the board after the Inflation Report and the minutes from the Bank of England signaled that rates could remain at current levels longer than expected.
On “Super Thursday” EUR/GBP climbed back above 0.7000 and gained further on Friday, risen above the level it had a week ago. The pair is about to end the week testing the 0.7100 area (July 29, 31 highs).