GBP/EUR rates spiked back up through 1.25 during Tuesday’s trading, following better than expected UK manufacturing data released this morning. Figures came in above expectation at 57.5 and immediately we saw GBP spike against the single currency, moving comfortably back above 1.25 on the exchange.
With further PMI data out for the UK tomorrow and Thursday, we could see the Pound’s momentum continue up through 1.2550. Key economic data for the Eurozone includes tomorrows GDP figures and Thursday’s European central Bank (ECB) interest rate decision. Both are considered key to market developments, so anyone with a GBP/EUR requirement should be keeping a close eye on both releases.
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