EUR/GBP drops below 0.8350 due to less likelihood of a BoE rate cut next month – FXStreet

The EUR/GBP currency pair has fallen below the 0.8350 mark, as there is now a decreased likelihood of a rate cut by the Bank of England next month. This drop in the exchange rate comes as a result of market expectations shifting towards the BoE holding off on any further monetary policy easing. Traders are closely monitoring the central bank’s next move, which will likely have an impact on the value of the pound against the euro.