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fxJul 15, 2026, 5:26 AM

EUR/GBP Gains to 0.8535 as Oil Surge Boosts ECB Rate Hike Bets

The euro strengthened against the pound, pushing EUR/GBP to near 0.8535 in early European trading. Rising oil prices have reignited inflation concerns, prompting increased expectations for rate hikes from both the ECB and the Bank of England.

EURGBP

The euro edged higher against the British pound during early European trading on Wednesday, with the EUR/GBP pair gaining momentum to near 0.8535.

Traders have ramped up bets on interest rate hikes by both the European Central Bank and the Bank of England as a surge in oil prices reignites inflation worries. The move reflects a shift in market expectations toward tighter monetary policy in response to rising energy costs.

No additional details were provided in the original report, but the price action suggests renewed bullish sentiment for the euro versus the pound in the near term.

Source: FXStreet Forex News