The Euro retreated against the British Pound on Monday as the EUR/GBP pair extended its pullback from fresh year-to-date highs near 0.8865. Sterling found support from a round of profit-taking on the recent Euro rally, prompting a technical correction in the exchange rate. The currency pair's movement reflects a cautious trading environment as markets evaluate the outlook for both European economies.
The shift follows contrasting commentary from the Bank of England and the European Central Bank. While the ECB has signaled a potential rate cut in June, more hawkish undertones from BoE officials have provided underlying strength to the Pound. This divergence in central bank policy continues to be the primary driver for the pair, with traders closely monitoring incoming economic data for further guidance on interest rate trajectories.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-17 16:55
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.