Snapshot: EUR/GBP is holding steady near 0.8530, consolidating recent gains as markets weigh the diverging outlooks for the ECB and BoE. UK macro data continues to present a mixed picture, while the ECB is signalling further easing is possible. All eyes on the incoming US data at 08:30 ET.
- Look for any upside surprise in services CPI or clear loosening in pay growth, which would tilt the next-meeting call dovish.
- Geopolitical developments remain a risk, potentially triggering risk-off flows into safe-haven currencies.
Bias into NY: Neutral, but favour selling rallies into 0.8550 given the BoE’s hawkish stance relative to the ECB. Rising US real yields are an external headwind for Euro/Sterling as well.