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fxJul 16, 2026, 9:13 AM

EUR/GBP Edges Higher After Hitting 13-Month Low, Bears Pause

EUR/GBP recovered slightly on Thursday after falling to a 13-month low on Wednesday, when the pound rallied on reports that UK Prime Minister Burnham will appoint a fiscally conservative finance minister.

EURGBP

EUR/GBP edged higher in early Thursday trading, recovering modestly after hitting a 13-month low. The pair saw a 0.8% drop on Wednesday, its largest daily decline since June 22, as the pound strengthened on signals that new UK Prime Minister Burnham will choose a fiscally conservative finance minister to manage fragile public finances.

The subsequent bounce suggests bearish momentum may be pausing, though the overall trend remains negative. Traders await further clarity on UK fiscal policy direction.

Source: FXStreet Forex News