ECB policy decision in the spotlight today- EUR/GBP edging lower this morning

With all the focus stateside it is easy to overlook the fact that the European Central Bank (ECB) is widely expected to lower interest rates later today (at 12.15pm GMT). The consensus across the markets is for a 0.25% rate cut. Since the last update here, the DAX futures are higher and the EUR/USD is a little lower. Well, given where the Euro is right now versus the dollar and the Pound there is certainly scope for the ECB to lower rates today. The EUR/GBP is in focus here, in view of the rise seen yesterday and the push back above the 0.8600 handle. The EUR/GBP is below the most recent 2025 highs, but it did rebound yesterday and set a US close at 0.8608. The high seen earlier today was set at 0.8617. However, it has edged lower since and for anyone thinking to avoid the dollar when this policy decision hits the screens, it might be the EUR/GBP that garners a good deal of interest. We shall have to see on that later, but this cross rate is surely in play later on? The EUR/GBP is right now at 0.8589