EUR/GBP Tests 10-Month Low at 0.8611 as Pound Strengthens

EUR/GBP has extended losses, hitting a 10-month low of 0.8611 on June 24 amid risk-off markets and sustained euro weakness. The move follows last week’s one-month low in GBP/EUR at 1.1547 after softer UK inflation and a cautious BoE outlook reduced rate-hike bets. Sterling gained further support from stronger-than-expected UK retail sales and BoE comments favoring an extended hold, while the euro received only modest backing from improved German ZEW sentiment. Technical momentum remains bearish, with a break below 0.8611 now opening 0.8595.