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Slowly the Pound is making progress versus the Euro helping the GBP/USD reach another 2025 high
The impact of the really poor German ZEW index has been seen in the EUR/GBP. That cross is now falling back to just below 0.8570 and as you can see that is some way below the highs seen last week, then it reached a 2025 high at 0.8738. So, that further fall is surely more consistent with the immediate fundamentals between the UK and Germany right now. The situation in the UK is seemingly not nearly as bad as many economists and analysts had feared. The other thing to note about that surge in the EUR/GBP last week. It was all about price discovery for the EUR/USD, as previously explained. That pushed the cross rate to levels which did not seem justified. Perhaps the reader will be reminded about that again later today. Meantime, the push lower in the EUR/GBP has allowed the GBP/USD to make further progress and rise to another fresh 2025 high just now. The GBP/USD reached 1.3239. It is currently at 1.3233
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