Forex: EUR/GBP declines after ad hoc comments
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - Having made a morning high and found resistance at 0.7935, EURGBP has declined to trade at 0.7920.
The decline followed comments from a German Government Spokesperson who reportedly stated that ECB bond purchases would violate its mandate. Forex Ticket see the daily range as being 0.7945 - 0.7905 and holding a downside bias. We have a glut of US data scheduled for 12:30 GMT and although not directly relevant to the pair, with the Jackson's Hole Symposium on Friday we can expect some cross pair volatility.
In other markets, European Equities and US futures stay underwater whilst commodities are maintaining their move off of lows.
The decline followed comments from a German Government Spokesperson who reportedly stated that ECB bond purchases would violate its mandate. Forex Ticket see the daily range as being 0.7945 - 0.7905 and holding a downside bias. We have a glut of US data scheduled for 12:30 GMT and although not directly relevant to the pair, with the Jackson's Hole Symposium on Friday we can expect some cross pair volatility.
In other markets, European Equities and US futures stay underwater whilst commodities are maintaining their move off of lows.
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