15.05.2020 Eur/Gbp Daily Analysis

15.05.2020 Eur/Gbp Daily Analysis

Eur/Gbp today is trading at 0.8853, it is trading high with 0.0017 despite downbeat German PPI data. Since the European Central Bank was challenged on its proportionality over the stimulus, by the German court, the leaders of the bloc jostled with the German policymakers to justify their superiority. Recently, French FM Bruno Le Maire said the German Court’s decision suggests limits to monetary policy and needs the EU Recovery Fund. However, on the other hand, the European Union and the UK policymakers are also showcasing their rivalry via the Brexit issues. Despite being the third round of negotiation, the diplomats still don’t have any answers for fisheries, Northern Ireland borders, and the Legislative constitution after the official departure on December 31, 2020. The pound is, therefore, getting weaker against the euro due to this Brexit rivalry hence the reason why the Eur/Gbp pair is trading higher today.