The Euro (EUR) holds minor gains against the British Pound (GBP) for the third consecutive day on Monday, favoured by European Central Bank (ECB) – Bank of England (BoE) monetary policy divergence. Euro bulls, however, are struggling to find acceptance above 0.8550, with market volatility relatively low in a calm summer trading session.
The Euro is drawing some support from investors’ growing confidence that the ECB is poised to hike interest rates after its September meeting.
Eurozone Gross Domestic Product (GDP) and Employment Change data seen last week endorsed this view. Economic growth bounced back in the second quarter after stagnating…
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