Forex - GBP/USD, EUR/GBP Flows: UK GfK consumer confidence rises to +1, matching 9-year highs. GBP offers 1.6610-20; EUR/GBP eye ECB/BoE Decision on 4 Sept


Published at 00:54 (GMT) 29 Aug


GBP/USD, EUR/GBP Flows: UK GfK consumer confidence rises to +1, matching 9-year highs. GBP offers 1.6610-20; EUR/GBP eye ECB/BoE Decision on 4 Sept (THIC7401)

UK GfK consumer confidence for August rises to +1, matching 9-year highs seen in June, vs -2 in July and poll of -1.

As Britons became more confident about the economy and financial prospects. Consumer spending will remain one of the biggest driveres in UK economic recovery - Reuters.

On FX, little impact on GBP, with GBP at 1.6587-90, offers at 1.6610-20. Interest still to sell on rallies, while bids at 1.6540-50, and ahead of key 1.6500.

EUR/GBP looking offered at 0.7947-50, offers at 0.7980-00, bids at 0.7920-30/0.7900. Interest to sell on rallies, given expectation of more ECB easing, while BoE MPC policymakers are debating and voting for interest rates hikes. Focus on 4 Sept decisions next week. WL

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