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EUR/GBP pushing higher this morning- is a year-end fix in focus?
A little earlier this morning an update here noted the potential for some sizeable year-end FX fixes to impact the markets are some point today. These can impact at the top of any hour and whilst the European and London fixes are more often than not in focus for that, we should not forget; that sometimes it is the 9am GMT fix that attracts some orders of that kind. Well, with that in mind, the EUR/GBP is pushing higher right now and edging back towards the earlier session high, at 0.8322. The rebound in the EUR/GBP from what was a new 2024 low last week (at 0.8222) has come even as the BOE remained on hold. The broader outlook for the UK is still under a cloud though and that has seemingly delivered more EUR/GBP hedging by UK importers since that new low was set in place. So, we shall see in due course how this fares this morning and for the rest of the day too. The EUR/GBP is currently trading at 0.8317
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