EUR/GBPEURGBP

EUR/GBP stabilizes near one-year low as ECB rate hike expectations fade.

Over the past 24 hours, EUR/GBP has remained near its one-year low, with the Euro consolidating after a four-day decline. This weakness is attributed to diminishing expectations of an additional European Central Bank (ECB) rate hike this year, following softer-than-expected Eurozone inflation data. In contrast, the British Pound's relative strength is supported by the Bank of England's (BoE) cautious approach to monetary policy amid ongoing political uncertainties in the UK.