The post EUR/GBP slides below 0.8700 as Eurozone PMI disappoints, UK data supports appeared on BitcoinEthereumNews.com.

The Euro weakens for the second straight day against the British Pound, dragging EUR/GBP below the 0.8700 level. The final HCOB Eurozone Composite PMI for July came in at 50.9, missing expectations of 51.0 and down from 51.0 in June. UK PMI data beat forecasts, with the Composite PMI rising to 51.5 and the Services PMI climbing to 51.8. The Euro (EUR) extends losses for the second consecutive day against the British Pound (GBP) on Tuesday, dragged lower by softer-than-expected Eurozone Purchasing Managers Index (PMI) data. Adding to the downside, sentiment around the Euro remains fragile in the wake of the recently announced trade framework deal between the United States(US) and European Union (EU), which is seen as more favorable to the US. Meanwhile, the British Pound is treading carefully ahead of the Bank of England’s (BoE) monetary policy decision on Thursday. However, relatively strong UK PMI data is offering some support, helping the Pound hold its ground, for now. The EUR/GBP cross dipped below the key 0.8700 psychological level during early Asian trade and continued to slide through the European session. As of now, during early American trading hours, the cross is trying to find its footing around 0.8684, down roughly 0.30% on the day. Eurozone PMI data released by S&P Global and Hamburg Commercial Bank (HCOB) on Tuesday came in softer than expected, adding pressure on the common currency. The HCOB Eurozone Composite PMI for July printed at 50.9, missing the forecast of 51.0 and down from the previous 51.0 reading. Similarly, the Services PMI edged lower to 51.0, falling short of the expected 51.2 and below June’s 51.2 print. In contrast, Germany showed slight improvement. The Composite PMI rose to 50.6, beating the 50.3 forecast and the previous reading. The Services PMI followed suit, climbing to 50.6 from…

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Filed under: News - @ August 5, 2025 7:24 pm