XE Market Analysis: Europe – Aug 24, 2017

Sterling posted a fresh eight-year low versus the euro during the pre-London session in Asia, and Cable a new eight-week low, at 1.2774. The underperformance of the pound comes after the solid flash August PMI data out of the Eurozone yesterday and ahead of today’s second estimate Q2 GDP release out of the UK, which is likely to confirm the preliminary figure of 0.3% q/q growth, which would be half the growth pace of the Eurozone. EUR-GBP’s new peak is at 0.9234.

Source: XE news feed
XE Market Analysis: Europe – Aug 24, 2017