Snapshot: EUR/GBP sits at 0.8669, up 0.04% with a tight daily range. Euro strength is limited by the ECB’s reported tightening of lending conditions, offsetting DXY weakness and a mild risk-on tone in equities. US data will be the key catalyst today.
- Watch for a break of the 0.8671 intraday high.
- The ECB’s latest tightening of lending conditions is capping Euro gains; further negative news regarding EU banks could push the cross lower.
Bias into NY: Neutral. With US data pending, expect range-bound trading between 0.8650 and 0.8680. A surprise from the data could force a break in either direction.