EUR/GBP advances for a second consecutive session, trading higher around 0.8550 during the Asian session on Monday.
EUR/GBP gained ground on softer Consumer Inflation Expectations. ECB’s Pablo Hernandez suggested that the central bank might commence interest rate cuts in June. Eurozone HICP and Trade Balance data are scheduled to be released on Monday. The Consumer Inflation Expectations, released by the Bank of England on Friday, increased by 3.0%, although slightly lower than the previous uptick of 3.3%.
Furthermore, ECB policymaker Pablo Hernandez de Cos stated on Sunday that the central bank opted to keep borrowing costs at record highs this month. He also indicated that the central bank might commence interest rate cuts in June following a decrease in Eurozone inflation. On Monday, market attention will be on the Eurozone Harmonized Index of Consumer Prices and Trade Balance.
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