London FX volume dropped in April 2020 from October 2019, according to the FXJSC turnover survey conducted by Bank of England.
The EURGBP pair moved slightly higher in overnight trading. The pair moved from a low of 0.9027 and reached an intraday high of 0.0.9100.
The continuation of the buying pressure around the Sterling is now dragging EURGBP to afresh 2-week lows in the 0.9100 neighbourhood.
EURGBP is now picking up extra upside traction and moves at shouting distance from yesterday’s 2019 highs in the 0.9250/60 band.
The broad-based range-bound prevailing in both the Sterling and the shared currency is prompting EURGBP to follow the same theme in the 0.9100 area.
The recovery in the British Pound is forcing EURGBP to give away part of its recent strong gains and move lower to the 0.9160 area.