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No rebound for the Pound yet today- check out the EUR/GBP this morning
The GBP/USD is under further pressure right now this morning and that is seeing the Pound fall very close to the 1.23 handle. At the same time, the EUR/USD is above the lows seen yesterday and since this time yesterday morning the Euro has continued to outperform the Pound versus the dollar. So, the EUR/GBP is pushing higher again this morning. The EUR/GBP has lifted from what was a new 2024 low set on December 19, at 0.8222. The Euro rose to test a technical level at 0.8350 yesterday (100 day moving average) and later closed in the US at 0.8346. The move higher has extended today and that has delivered a new interim high at 0.8370 a short while ago. That move has lifted the Euro above that 100 day moving average. As noted here yesterday, the dramatic push higher in UK yields is not having a positive impact on the currency. In fact it is having the opposite effect. The EUR/GBP is currently trading at 0.8366
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