EUR/GBP stays pressured around mid-0.8700s as BoE, speech from ECB’s Lagarde loom – by anilpanchal7 EURGBP BOE ECB RiskAversion Crosses
Optimism surrounding UK’s output, housing market jostles with the hawkish ECB talks.Speech from ECB’s Lagarde, key UK data and BoE Monetary Policy Meeting eyed for clear directions.holds lower ground near 0.8760, fading the last week’s bounce off a three-month low, as traders await this week’s key catalysts with mixed feelings during early Monday. Even so, the cross-currency pair remains down for the fourth consecutive day by the press time.
Alternatively, the details of the UBS-Credit Suisse deal suggest losses for the Credit Suisse AT1 bondholders, which in turn probed the weak-start optimism and challenged the EUR/GBP pair sellers as well. Previously, headlines from Reuters favored the British Pound as it quotes the Property portal Rightmove Survey while saying, “The average price of homes coming on the market in Britain stabilized in March and activity is picking up towards more normal pre-pandemic levels after last year's "mini-budget" upheaval.”
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