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EUR/GBP retreats from 2-week highs

FXStreet (Córdoba) - EUR/GBP is falling on Tuesday, weakened by economic. The pair yesterday climbed to 0.7872, reaching the highest price since September 23. During the recent Asian session pulled back to 0.7860 and on European horus broke below and fell to 0.7835.

Currently trades at 0.7840/45, 20 pips below the price it had at the beginning of the day. So far EUR/GBP has been able to hold above yesterday’s lows that lie at 0.7825.

UK, Germany data favors GBP

In Germany, industrial production in August fell 4%, surprising analysts who expected a decline but around 1.5% while in the United Kingdom, IP remained flat in August, in line with expectations.

The divergence in economic data favoured the pound against the euro. The common currency is among the worst performers across the board, while the pound is the best in the region.

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Senior Analyst Sverre Holbek at Danske Bank reiterated the bank’s 1.22 target for the pair in a 3-month horizon....
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USD/JPY hovers around 108.55

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