EUR/GBP moves below 0.8300 due to increased likelihood of further ECB rate cuts – FXStreet

The EUR/GBP pair has dropped below the 0.8300 level as there is a higher probability of more rate cuts by the European Central Bank (ECB). This news has led to a decrease in the value of the euro against the British pound. Traders are closely monitoring the situation as they anticipate further actions from the ECB to stimulate the economy. The market sentiment is reflecting concerns about the economic outlook in the Eurozone, leading to a weakening of the euro. The ongoing uncertainty has caused the EUR/GBP pair to move lower, with investors keeping a close eye on any developments that could impact the exchange rate.