The EUR/GBP pair is pulling back
from its previous session's gains and is currently trading around 0.8550 in
early European trading on Monday.
Yannis Stournaras, a member of the European
Central Bank (ECB) Governing Council, hinted on Sunday that there could be a
total of four interest rate cuts in 2024, amounting to a 100 basis points (bps)
reduction by the end of the year.
This statement has increased downward
pressure on the EUR/GBP exchange rate.
