• 0.7118 = EUR/GBP early Europe 5wk low, after sub-forecast French PMIs
  • Corporate buying of EUR & profit-taking on shorts lifted cross from 0.7118
  • Mooted offers around 0.72 may cap EUR/GBP if it extends north from 0.7118
  • EUR/GBP was trading circa 0.72 into upbeat MPC minutes release Wednesday
  • 0.7194 = 1.39 in GBP/EUR. 0.7210 was Tuesday’s high

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