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Pound outperforms-check out the EUR/GBP
The relative performance of the Pound is quite well judged by the price action, not just versus the dollar, but also against the Yen and the Euro. The GBP/JPY has traded back above 184 since yesterday and the EUR/GBP fell back below the 0.8600 handle yesterday too. The EUR/GBP closed below that level last night, ending the session at 0.8590. It has held a pretty tight range today, with 0.8587 to 0.8600 covering it so far. The prospect of UK interest rates holding higher for longer versus dollar, Yen and Euro is a driver here and that implied interest rate differential is what has helped the pound to gain against all three so far this week. All the while that dynamic remains in place, then the pound can hold these gains it seems. The EUR/GBP is currently trading at 0.8598
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