EUR/GBP grinds near nine-month low around 0.8550 as UK jobs, ECB eyed – by anilpanchal7 EURGBP ECB BOE Employment RiskAversion
on open. In doing so, the cross-currency pair justifies comparatively downbeat economic concerns about themore than the UK. However, the cautious mood ahead of this week’s top-tier UK data and the European Central Bank Monetary Policy Meeting allows bears to take a breather.
Earlier in the day, Bank of England policymaker Catherine Mann said the UK government needs long-term agenda to defend the growth prospects. However, the UK’s Confederation of British Industry trade body said on Monday that Britain's economy now looks likely to sidestep recession entirely this year but deep-rooted problems like weak business investment will persist.
On a different page, growth numbers from the Eurozone and Germany, as well as final readings of the inflation catalysts, haven’t been impressive to justify the ECB policymakers’ hawkish bias.
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