EUR/GBP-Commentary

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November 21, 2025

EUR, GBP flows: GBP under pressure after weaker PMIs
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November 21, 2025 10:08 AM UTC

GBP under pressure after weaker PMIs

GBP, AUD, JPY flows: GBP dips briefly on retail sales, risk negative tone
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November 21, 2025 7:45 AM UTC

GBP dips briefly on weaker retail sales. Mild risk negative tone perissts. PMIs awaited

November 19, 2025

GBP flows: UK CPI data marginally on the soft side
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November 19, 2025 7:25 AM UTC

GBP a tad weaker as core CPI rises slightly less than expected

November 14, 2025

GBP flows: GBP stabilises despite gilt sell off
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November 14, 2025 9:47 AM UTC

GBP steadies despite sharp gilt sell off on report that Chancellor Reeves has abandned plans for an income tax increase

GBP, CHF flows: GBP falls on report tax hikes abandoned, CHF strength extends
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November 14, 2025 7:56 AM UTC

GBP falling back as FT reports that Chancellor Reeves has abandined plans to raise income tax in the November 26 budget. CHF strength extends with EUR/CHF retesting 0.92 level on optimism on tariff reduction.

November 13, 2025

GBP flows: GBP falls on weak GDP, but...
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November 13, 2025 7:32 AM UTC

GBP declines as GDP comes in weaker than expected, but weakness largely due to cyberattack so likely to be reversed

November 12, 2025

JPY, GBP flows: JPY sells off again, GBP under pressure
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November 12, 2025 7:39 AM UTC

JPY sells off as equities firm, intervention threat increases. GBP downside risks on weak data and political uncertianty

November 06, 2025

GBP flows: GBP weaker as BoE MPC vote 5-4 for no change in rates
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November 6, 2025 12:13 PM UTC

GBP lower after 4 MPC members vote for a rate cut. Yesterday's 0.8830 high in EUR/GBP a target

November 05, 2025

GBP, JPY, EUR flows: Little net change as equities bounce - GBP a focus
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November 5, 2025 7:54 AM UTC

German orders marginally firmer but trend softening. JPY reverses initial gains in Asia as equities bounce. GBP a focus as EUR/GBP makes new 2 year high

October 29, 2025

GBP flows: GBP suffering from expected productivity downgrade
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October 29, 2025 8:10 AM UTC

EUR/GBP extends gains to new highs for the year as OBR expected to reduce prodictivity growth projection.

October 24, 2025

EUR, GBP flows: GBP recovers slightly after UK PMI
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October 24, 2025 8:42 AM UTC

EUR/GBP slips back after UK PMI following gains after stronger Eurozone data

GBP flows: GBP edges higher after stronger than expected retail sales
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October 24, 2025 6:43 AM UTC

GBP firmer after stronger than expected retail sales 

October 22, 2025

GBP flows: GBP dips sharply on weaker than expected CPI
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October 22, 2025 7:10 AM UTC

Weaker UK CPI increases chance of earlier UK rate cut and pushes EUR/GBP higher

October 16, 2025

GBP, USD flows: Little impact from UK GDP, USD steady
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October 16, 2025 6:56 AM UTC

GBP marginally softer after August GDP comes in as expected. USD stable

October 14, 2025

GBP flows: GBP lower after mixed labour market data
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October 14, 2025 6:39 AM UTC

EUR/GBP gains 20 pips after labour market data, but earnings growth remains too high for comfort

October 06, 2025

USD, EUR flows: EUR down on French PM resignation
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October 6, 2025 8:41 AM UTC

EUR down across the board as French PM resigns after less than a month in office

September 29, 2025

USD, GBP flows: USD edging lower on shutdown concerns, GBP firmer
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September 29, 2025 6:31 AM UTC

USD softer as government shutdown looms. GBP edging up

September 23, 2025

GBP, EUR flows: Weaker UK PMI triggers GBP decline
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September 23, 2025 8:49 AM UTC

UK PMI dips, triggering GBP losses, but data is unreliable. Year's high in EUR/GBP at 0.8763 should hold

September 19, 2025

GBP flows: GBP weaker as public borrowing increases
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September 19, 2025 6:32 AM UTC

Rise in PSNB dominates modest strength in retail sales

September 18, 2025

GBP flows: GBP marginally weaker after MPC leaves rates unchanged
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September 18, 2025 11:17 AM UTC

BoE decision contains few surprises, but risks remain to the GBP downside

September 17, 2025

GBP flows: GBP little changed after marginally softer than expected CPI
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September 17, 2025 6:30 AM UTC

UK CPI marginally softer than expected as air fares reverse July gains. GBP little changed but EUR/GBP close to the top of the range

September 16, 2025

GBP, USD flows: GBP little changed after UK data
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September 16, 2025 6:37 AM UTC

GBP unchanged after UK labour market data in line with consensus

September 05, 2025

GBP flows: GBP slightly firmer after retail sales
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September 5, 2025 6:35 AM UTC

UK retail sales much as expected after significant revisions, GBP a little firmer

September 03, 2025

GBP flows: GBP slightly higher as MPC members speak
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September 3, 2025 1:52 PM UTC

GBP in focus as MPC members speak. Short term ranges likely to hold, but long term risks on GBP downside.

USD, GBP flows: Mostly rangy, GBP may see some volatility
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September 3, 2025 6:50 AM UTC

USD remains mostly range bound. GBP in focus as MPC members speak

August 27, 2025

EUR flows: EUR has some downside risks as confidence slips
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August 27, 2025 6:46 AM UTC

German confidence follows French confidence decline

August 20, 2025

GBP flows: EUR/GBP lower after CPI, but support at 0.86
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August 20, 2025 6:26 AM UTC

GBP gains from higher than expected CPI, but scope for gains modest as market already prices minimal BoE easing

August 14, 2025

GBP flows: GBP gains on better than expected GDP
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August 14, 2025 6:16 AM UTC

Better than expected June and Q2 UK GDP suggests scope for EUR/GBP to test 0.86 

August 12, 2025

GBP flows: GBP gains slightly on UK labour market data, but downside favoured
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August 12, 2025 6:29 AM UTC

UK labour market data mixed but UK rate expectations look too hawkish

July 25, 2025

GBP flows: GBP softer after weaker than expected rise in retail sales
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July 25, 2025 6:35 AM UTC

EUR/GBP at 3 month highs as retail sales rise less than expected in June

July 24, 2025

EUR flows: EUR up as yields rise on Lagarde
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July 24, 2025 12:42 PM UTC

Lagarde sounding less dovish, market now not fully pricing in any more easing this year. EUR firmer, but EUR/USD upside may be more limited than EUR gains on the crosses.

EUR, GBP flows: GBP weaker on PMIs
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July 24, 2025 8:58 AM UTC

Weaker UK PMI pushes GBP lower, but implications are limited near term

July 22, 2025

GBP flows: GBP steadies after initial dip on PSNB data
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July 22, 2025 8:52 AM UTC

June PSNB second highest on record, confirming need for fiscal tightening, but little net GBP impact

July 16, 2025

GBP flows: GBP firmer as CPI surprises on the upside
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July 16, 2025 6:39 AM UTC

June CPI higher than expected, driven by transport costs. Detail less strong but GBP should find support as market is likely to slightly reduce chances of aggressive BoE easing.

July 11, 2025

GBP, EUR, CAD flows: GBP softer after weak May GDP
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July 11, 2025 6:39 AM UTC

GBP weakens as May shows another drop in GDP. Trend is weakening although latest 3m/3m number is flattered by upward revision to March

July 02, 2025

USD, GBP flows: USD softer after weak ADP, GBP falling on fiscal concerns
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July 2, 2025 1:23 PM UTC

USD lower on negative ADP report, GBP declines while UK yields rise on fiscal concerns and talk that Chancellor Reeves may resign

July 01, 2025

GBP flows: GBP softer as UK yields edge lower on Bailey
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July 1, 2025 1:50 PM UTC

EUR/GBP heading up towards 0.86 as UK yields edge lower

June 23, 2025

EUR, GBP flows: PMIs unremarkable but GBP may gain some support
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June 23, 2025 8:49 AM UTC

EUR a tad softer after PMIs, GBP may make more gains

June 19, 2025

GBP flows: GBP lower after MPC votes 6-3 for no change in policy rate
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June 19, 2025 11:16 AM UTC

BoE leaves rates unchanged but deputy governor Ramsden joins the established doves in voting for a rate cut. Nevertheless statement still suggetss rate cuts will be gradual, and GBP has already fallen significantly in the last week

June 18, 2025

GBP flows: GBP slightly firmer after CPI
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June 18, 2025 6:22 AM UTC

May CPI was only marginally firmer than consensus, but GBP was due a recovery after recent losses against the EUR

May 23, 2025

EUR, USD flows: EUR falls as Trump proposes 50% tariff
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May 23, 2025 12:22 PM UTC

The proposal of a 50% tariff on the EU to start on June 1 has hit the EUR

EUR, GBP flows: Data supportive of EUR and GBP
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May 23, 2025 6:40 AM UTC

Strogn UK retail sales and upward revision in German GDP should underpin EUR and GBP

May 15, 2025

GBP, NOK flows: GBP and NOK find mild support from better GDP
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May 15, 2025 6:47 AM UTC

UK Q1 GDP revised up, Norway Q1 GDP stronger than expected. GBP and NOK see mild gains, NOK has scope for more

May 13, 2025

GBP flows: EUR/GBP edging lower but UK labour market data neutral
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May 13, 2025 6:44 AM UTC

EUR/GBP decline likely to stall near 0.84.

May 08, 2025

GBP flows: GBP slightly weaker after BoE cut
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May 8, 2025 11:17 AM UTC

BoE cuts 25bps as expected, but three way split on MC, with two votes for a 50bp cut and two for no change. GBP slightly firmer in response

EUR, GBP flows: EUR should gains support from German data, GBP firmer on trade deal hopes
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May 8, 2025 6:24 AM UTC

German production data suggetss rising trend. Talk of US/UK trade deal should offset any concerns about weaker growth in the BoE MPR

April 25, 2025

GBP flows: Little changed on strong retail sales
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April 25, 2025 6:46 AM UTC

UK retial sales were strong in March, but were partly weather affected. GBP little affected as Q1 strength is expected to fade

April 23, 2025

EUR, GBP flows: UK PMIs particularly weak, GBP a little softer
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April 23, 2025 8:50 AM UTC

UK composite PMI lowest since the pandemic

April 16, 2025

GBP, CHF, JPY flows: GBP a little softer, CHF and JPY strength could be challenged
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April 16, 2025 6:31 AM UTC

GBP edging lower more on the dip in risk sentiment than weak CPI. CHF and JPY remain strong, but CHF strength may fade if equity ranges hold

April 15, 2025

GBP flows: GBP has upside scope despite weaker data
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April 15, 2025 6:24 AM UTC

GBP has scope for recovery even though weaker labour market data suggests rate cut very likely in May