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Euro to Pound Sterling Exchange Rate Avoids Losses as Eurozone Data Shows Signs of Hope
After a relatively solid performance for the Pound (GBP) on the back of UK election hopes last week, market optimism towards the upcoming election has cooled and the Euro to Pound Sterling (EUR/GBP) exchange rate is edging higher.
Last week saw EUR/GBP trending lower for most of the week after opening the week at the level of 0.8638.
On Friday, EUR/GBP briefly touched on a weekly low of 0.8600 amid election hopes, but then currently quickly recovered to the level of 0.8631 before markets closed for the week.
EUR/GBP has continued to trend with an upside bias since markets opened today, but its movement has been narrow. At the time of writing, EUR/GBP is trending near the level of 0.8639.
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