Snapshot: EUR/GBP trades at 0.8652, down 0.15% on the session, pressured by the Bank of England’s hawkish hold. The BoE voted 8-1 to keep rates steady at 4.50%, while the ECB is widely expected to ease further today.
- Watch for follow-through below 0.8650 as hawkish hold supports Sterling.
- The 14:45 CET ECB press conference presents event risk; a hawkish surprise is not priced.
Bias into NY: Downside pressure likely to persist as the BoE’s cautious stance contrasts with the ECB’s easing bias; a break of 0.8640 would open the door to further Sterling gains, potentially amplified by positive risk sentiment as S&P 500 futures trade up 0.65%.