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EUR/GBP reaches 1-week high ahead of ECB

FXStreet (Córdoba) - The British pound weakened across the board despite solid UK construction PMI, with EUR/GBP climbing to 1-week highs as investors gear up for the European Central Bank monetary policy decision.

EUR/GBP climbed nearly 40 pips within the last hours and hit a high of 0.7829 before losing steam. at time of writing, EUR/GBP is trading at 0.7825, recording a 0.36% gain Thursday.

The ECB is expected to keep policy unchanged after cutting three main rates and announcing an asset buying program last month. However, Draghi is expected to hold a dovish stance and to leave the door open for further easing in the future.

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