Pound Rises to Five-Week High Against Euro, Supported by Improved UK Trade Situation

According to Jin Shi data reports, market risk sentiment has improved, and the pound has risen to a five-week high against the euro. Francesco Pesole, an analyst at ING, pointed out that the trade situation has improved supporting the pound after the UK reached agreements with the US and India.

The Bank of England's cautious stance on interest rate cuts is also a supporting factor. The euro fell to a low of 0.8421 against the pound, and ING believes that this currency pair has room to break below 0.84.