EUR/GBP lifts above 0.8650 after UK inflation data not as hot as feared

The pound has reacted across the board this morning following the lower than forecast UK inflation reports, just now covered in the previous update. This news has also impacted the EUR/GBP. That cross has now lifted to a new interim high above 0.8650. The Euro rose to as high as 0.8658 a short while ago, but it has backed off a bit now as the dust settles on the market reaction to this UK data. The move above 0.8650 does take the EUR/GBP one step closer to its 200 day moving average though. That price point was also highlighted here yesterday and remains in place at 0.8712. The EUR/GBP is just now at 0.8652