Euro exchange rates were broadly firmer following the release of data that showed Eurozone inflation surprised to the upside in February.
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Pound Sterling edged lower against the Euro through the latter part of February, but we see ongoing resilience in March.
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Pound Sterling retains a constructive setup against the Euro, and further advances can be expected this week, but a strong Eurozone CPI print would likely boost the Euro.
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Analysts at investment bank Nomura are constructive on Pound Sterling as the incoming data points to the Bank of England cutting interest rates after the European Central Bank and Federal Reserve.
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The coming days suggest scope for a further retreat from recent highs.
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The Pound to Euro exchange rate has once again been rejected at a pivotal technical level, meaning those who failed to buy euros at 25-week highs have been left disappointed.
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The Pound to Euro exchange rate remains well supported by an abundance of technical support levels, but it will take a blow-out set of UK economic data releases to deliver fresh 2024 highs in the c…
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