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EUR/GBP rebounds but still below 0.7800

FXStreet (Córdoba) - The euro managed to recover some ground against the pound during the last hours but it was unable to erased losses and is headed toward the first close below 0.7800 in years.

The common currency is among the worst performers on Tuesday, weakened by Eurozone inflation data, that came below expectations, increasing speculation about ECB action. EUR/GBP bottomed during the European session at 0.7765 and then rebounded approaching 0.7800.

The pair is falling in September for the sixth month in a row and is about to post the lowest monthly close since February 2008. Currently the pair is trading just above 2012 lows that lie at 0.7752.

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