- The Euro appreciates for the second consecutive day to reach fresh three-month highs at 0.8875.
- The Pound losses ground weighed by grim UK economic perspectives and hopes of a slower BoE tightening.
- EUR/GBP appreciates about 5.5% in 2022 with the Sterling hit by the UK’s political drama.
The Euro finally managed to pierce the 0.8860 resistance area on Friday, extending its rebound from session lows at 0.8820 to fresh three-month highs at 0.8870 so far. The common currency is taking advantage of a moderately weak Sterling on a sluggish pre-holiday session.
The pair has shrugged off the mild risk aversion on the back of concerns about the consequences of the strong COVID-19 outbreak in China and the escalating tensions in Ukraine, to appreciate for the second consecutive day.
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