The EUR/GBP regained positive traction and moved away from a one-week low touched on Tuesday. The cross catches fresh bids on Wednesday and snaps a two-day losing streak to a one-week low, around the 0.8565 regions touched the previous day.
The cross adds to its intraday gains and hits a fresh daily high, around the 0.8630-0.8635 area during the first half of the European session.
The shared currency’s relative outperformance against its British counterpart comes amid mostly better-than-anticipated economic releases from the Eurozone. According to the official data released earlier this Wednesday, German Industrial Production fell by 0.3% in July against the 0.4% decline expected.
Furthermore, the Eurozone GDP was revised higher to show a growth of 0.8% during the second quarter of 2022 vs. 0.6% estimated previously.
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