EUR/GBP Keeps The Red Near Session Lows

The Euro weakened slightly during the early European session and pushed EUR/GBP to daily lows near the middle of 0.9000 after the German GDP figures.

After a short consolidation during the first part of Thursday’s trading, the pair faced some new offers and fell near its lowest levels in a week. The drop was driven by the single currency that lost some strength after the weaker-than-expected GDP report.

The report published by Destatis on Thursday showed that the largest economy in the Eurozone contracted by 10.1% during the Q2 of 2020, worse than the forecasts of 9.0% and 2.0% recorded in the previous quarter.

On the other hand, sterling was consolidating its recent gains and did little to influence the pair with the common currency acting as the exclusive engine for the pair and investors are now looking to prelim German consumer inflation figures.