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At the time of writing, the GBP/EUR exchange rate traded at around €1.1731, virtually unchanged from Friday’s opening levels. The Euro (EUR) began the week undermined by European Central Bank (ECB) interest rate cut bets, as ECB policymaker Klaas Knot echoed his colleagues recent sentiments that the ECB will begin unwinding its monetary policy in June. ...
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The unpredictable pendulum of sentiment in foreign exchange markets is starting to swing back the other way against the mighty US dollar, as recent US economic data (and revisions of previously announced data) prints almost universally on the softer side. The weaker data always brings forward the timing of US interest rate cuts and thus depreciates the USD. ...
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