9 Mar 2015
EUR/GBP erases gains, back below 0.7200
FXStreet (Córdoba) - The EUR/GBP recovered ground at the beginning of the European session but failed to hold and now is back under 0.7200.
The euro, that dropped last Friday to 0.7180 against the pound, the lowest price in seven years, peaked earlier at 0.7219 but then turned to the downside and recently reached a fresh daily low at 0.7185. Price is pointing toward last week lows as the EUR/GBP continues to move with a bearish bias.
Today the European Central Bank started to buy government bonds, starting the expansion of its asset purchase program announced back in January. Eurozone finance ministers will meet today with main focus on the Greek situation.
The euro, that dropped last Friday to 0.7180 against the pound, the lowest price in seven years, peaked earlier at 0.7219 but then turned to the downside and recently reached a fresh daily low at 0.7185. Price is pointing toward last week lows as the EUR/GBP continues to move with a bearish bias.
Today the European Central Bank started to buy government bonds, starting the expansion of its asset purchase program announced back in January. Eurozone finance ministers will meet today with main focus on the Greek situation.