Snapshot: EUR/GBP trades 0.8625, up 0.10% on the day, as the Bank of England’s hawkish hold stance continues to underpin Sterling. Today’s focus shifts to US data, but the domestic narrative remains firmly anchored by the MPC’s split vote and persistent services inflation.
- BoE’s 7-2 vote split for a hike to 4% remains the dominant Sterling driver, highlighting ongoing inflation concerns.
- Watch for any significant upside surprises in today’s 08:30 ET US data, which could provide a USD bid and cap EUR/GBP upside.
Bias into NY: The bias is for range-bound trading with a slight downside lean for EUR/GBP as Sterling finds support from the BoE’s hawkish undertones, though a strong US data print could see it test below 0.8615.