EUR/GBP falls below 0.8400 due to rising likelihood of a rate cut by ECB – FXStreet

The EUR/GBP pair has dropped below the 0.8400 level as the possibility of a rate cut by the European Central Bank (ECB) increases. This decline in the exchange rate is a result of growing expectations of the ECB taking action to lower interest rates. Traders are closely monitoring the situation as the likelihood of a rate cut by the ECB continues to rise.