EUR/GBP fall underscores Sterling gains ahead of UK data releases shortly

As mentioned a little earlier this morning, pretty shortly at 6am GMT, the UK will release a batch of economic data. The main bent of that is the latest UK growth (GDP) data covering the month of May. The markets expect an improvement there. GDP is forecast to rise by 0.2%, where it flat-lined the month before. The other notable releases are on Industrial and manufacturing, construction output and index of services for the same period. Of course this data can have an impact and it was weak in April, so the markets are looking for a bounce back today. Ahead of this, we know the GBP/USD has been on the rise and that has been reflected in a corresponding move lower in the EUR/GBP. Yesterday that dropped to a low at 0.8425 and it is not much removed from that low right now. The EUR/GBP closed in the US last night at 0.8428. The previous 2024 low was set at 0.8397, reached on June 14. That low is clearly back on the radar this morning, but it will surely need all this UK data due shortly to help it come closer into view. The EUR/GBP is currently trading at 0.8427