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Nikita Kapoore•13 October 2022

GBP drops percentage in points to Euro

2 min read

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Daily Forex Report - 13-Oct-2022: GBP drops percentage in points to Euro; USD stays strong; JPY/USD in danger zone;

Sterling also drops ground against the Japanese yen

The US dollar remains strong among the G10 set on Thursday, with the GBP/USD pair showing little interest in budging from a consistent US$1.11 price point.

GBP/USD remains at the US$1.11 price point – Source: currency.com

Inflation and CPI data is scheduled for later today, though only a dramatic shift from expected figures will result in a pivot from the Federal Reserve’s pending rate hike in three weeks’ time.

In the meantime, the US dollar could maintain its dominance against the Euro, where the EUR/USD pair currently sits under parity at US$0.97.

USD is also sitting at parity with the Swiss franc (CHF).

While a few pips were shed against the Japanese Yen, the USD/JPY pair remains scarily strong for the Bank of Japan.

Changing hands at 88p, the Euro has gained 0.2% in the EUR/GBP pair in today’s trading session so far, a negligible rise given yesterday’s 1.2% drop.

GBP has also fallen against the Yen, Franc and Canadian dollar.

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