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EUR/GBP hits 4-week highs above 0.7950

FXStreet (Córdoba) - The euro rose further against the pound and reached the strongest level in four weeks above 0.7950. EUR/GBP rose to 0.7955 after the release of Eurozone economic data reaching the highest price since October 17.

So far the pair has been unable to hold above the important 0.7950 area and trades slightly below, but still with a bullish tone in the short term, consolidating significant weekly gains.

EUR/GBP little reaction to data

The final reading showed that the annual CPI rate in the euro area rose from 0.3% to 0.4%, in line with expectations. Regarding growth, the flash estimate showed that GDP rose 0.2% in the third quarter, above the 0.1% expected by analysts. The euro rose modestly after the data, but quickly pulled back.

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