{"id":185072,"date":"2023-11-01T14:17:30","date_gmt":"2023-11-01T08:47:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=185072"},"modified":"2023-11-01T14:17:30","modified_gmt":"2023-11-01T08:47:30","slug":"eur-gbp-trades-below-0-8700-after-pulling-back-from-the-five-month-high-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-gbp-trades-below-0-8700-after-pulling-back-from-the-five-month-high-crypto-news\/","title":{"rendered":"EUR\/GBP trades below 0.8700 after pulling back from the five-month high &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>EUR\/GBP extends losses after downbeat Eurozone economic figures.<\/strong><\/li>\n<li><strong>Eurozone HICP (YoY) reduced to 2.9% and GDP (YoY) eased to 0.1%.<\/strong><\/li>\n<li><strong>Pound Sterling could face challenges as BoE is expected to keep interest rates at 5.25%.<\/strong><\/li>\n<\/ul>\n<p>EUR\/GBP continues the losing streak post retreating from the five-month high, trading lower around 0.8690 during the early European session on Wednesday. The EUR\/GBP cross faces downward pressure as the Eurostat released the weaker-than-expected consumer inflation data on Tuesday.<\/p>\n<p>The Eurozone report showed that the preliminary Harmonized Index of Consumer Prices (YoY) for October, reduced to 2.9% from 4.3% prior, below the market anticipations of 3.1%. The seasonally adjusted Gross Domestic Products (YoY) came in at 0.1% in Q3 compared to the 0.2% expected.<\/p>\n<p>The significant slowdown in consumer prices aligns with the market&#8217;s anticipation that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\">the European Central Bank (ECB)<\/a> is unlikely to push for additional interest rate hikes. Moreover, the looming risks of a recession may continue to undermine the Euro (EUR), influencing the EUR\/GBP cross.<\/p>\n<p>However, European Central Bank (ECB) officials maintain the possibility of further tightening. Member of the ECB Governing Council Joachim Nagel said, &#8220;Our tight monetary policy is working, but we must not let up too soon.&#8221; According to him, rates should remain at a sufficiently high level for an extended period.<\/p>\n<p>On the other side, the Pound Sterling (GBP) could face challenges in the near term as investors lean towards the belief that the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/boe\">Bank of England<\/a> (BoE) will maintain interest rates at 5.25% in Thursday&#8217;s meeting, driven by concerns about a potential slowdown in the UK economy.<\/p>\n<p>Investors are keen on receiving guidance regarding future interest rates and the inflation <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\">outlook<\/a>. United Kingdom (UK) Prime Minister Rishi Sunak pledged in January to halve inflation to 5.4% by year-end, a commitment that appears challenging as annual price growth stood at 6.7% in September.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: EUR\/GBP extends losses after downbeat Eurozone economic figures. Eurozone HICP (YoY) reduced to 2.9% and GDP (YoY) eased to 0.1%. Pound Sterling could face challenges as BoE is expected to keep interest rates at 5.25%. EUR\/GBP continues the losing streak post retreating from the five-month high, trading lower around 0.8690 during the early European [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":47143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,298,257,825,927,255,250,333,277,252,247,253,249,256,254],"class_list":["post-185072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-crosses","tag-cryptocurrency","tag-ecb","tag-eurgbp","tag-gta","tag-looks-rare","tag-macroeconomics","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=185072"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185072\/revisions"}],"predecessor-version":[{"id":185073,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185072\/revisions\/185073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/47143"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=185072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=185072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=185072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}