22 Jan 2014
EUR/GBP slumps to 1-year low after UK data, BoE minutes
FXstreet.com (Córdoba) - The EUR/GBP slumped to a fresh 1-year low as the pound strengthened in the wake of strong UK employment data and the BoE minutes.
The UK jobless rate fell to 7.1% in the 3 months to November, almost hitting the BoE threshold. Meanwhile, the Bank of England's minutes showed all MPC officials voted to keep monetary policy unchanged and see no immediate need to raise rates even if unemployment rate reaches 7.0%.
The EUR/GBP dropped more than 40 pips after the data, breaking below the 0.8200 psychological level to hit a low of 0.8180 before finding support. At time of writing, EUR/GBP is trading at the 0.8190 area, recording a 0.5% loss on the day.
The UK jobless rate fell to 7.1% in the 3 months to November, almost hitting the BoE threshold. Meanwhile, the Bank of England's minutes showed all MPC officials voted to keep monetary policy unchanged and see no immediate need to raise rates even if unemployment rate reaches 7.0%.
The EUR/GBP dropped more than 40 pips after the data, breaking below the 0.8200 psychological level to hit a low of 0.8180 before finding support. At time of writing, EUR/GBP is trading at the 0.8190 area, recording a 0.5% loss on the day.