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EUR/GBP aims for 0.8900 despite disappointing EU data
EUR/ GBP continues to harness the gains for the past three sessions. The pair recorded a jump of 138-pip from the key support level near 0.8630. The move is primarily sponsored by a fundamentally weak Great Britain pound. In recent developments, several economists are lowering their projections for UK economic growth. UK economy could dwell into recession amidst hot inflation, but higher interest rates owing to global factors and not so liked ‘mini budget’ would augment the situation. “The cost of living crisis would be worsened by a cost of borrowing crisis as warned by economists at Capital Economics. ... (full story)