EUR/GBP continues the winning streak that began on Wednesday, trading higher around 0.8700 psychological level during the Asian session on Monday. The
data, coupled with the dovish policy decision by the Bank of England in the previous week.
However, the HCOB Purchasing Managers' Index survey, showed that the Eurozone Manufacturing Purchasing Managers Index declined to 43.4 in September, below the market consensus of 44.0 and the previous reading of 43.5. Furthermore, the Bank of France President Francois Villeroy de Galhau spoke in a weekend interview that he is in no rush to raiseAdditionally, economists in a Reuters poll expect the ECB to conclude its rate-hike cycle and remain on hold until at least July next year.
On the United Kingdom’s side, the Bank of England decided not to proceed with a widely anticipated interest rate hike on Thursday, citing inflation figures for the UK economy that were generally lower than expected.
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