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EUR/GBP edging higher after UK inflation data
The drop back in the EUR/GBP towards 0.8525 this week has seemingly been bought to a halt this morning. That is because of the lower UK inflation prints have undermined the downside in that cross rate. The EUR/GBP had closed in the US last night at 0.8547 and traded as low as 0.8540 earlier today. The drop back from the most recent highs around 0.8625 seems to have hit a block in the road for the time being and that means it is now pressing back towards 0.8575. The move higher in the EUR/GBP is also helping to support the EUR/USD, as price discovery in the cross pushes the EUR/USD close to the 1.10 handle just now. The EUR/GBP is currently trading at 0.8571
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