- EUR/GBP opted to buy around 0.8420, however, looking for more evidence of a bullish reversal.
- Disruption of gas supply to Germany due to unscheduled maintenance, fuelling concern about Germany’s energy crisis ‘s concerns.
- New forecast for UK CPI of 18% wreaks havoc on Bank of England policymakers .
EUR/GBP pair tries to bounce back in Tokyo after ending downside approach The period is 0.8412. Common currency bulls are defending further downside despite soaring expectations of a potential future energy crisis in Germany.
Supportive Moves The cross also relies on mixed German Purchasing Managers’ Index (PMI) data. The Manufacturing Purchasing Managers’ Index was better than expected and the previously published 49.8. However, the services PMI contracted to 48.2, below expectations for 49 and the previously published 49.9.
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