EUR/GBP Near 3-Week Lows

EUR/GBP maintained its performance in the mid-European session and last seen hovering around its lowest level in three weeks, just above the mid-0.8900s.

The pair came under fresh selling pressure on Thursday and expanded its recent retreat from three-month highs set on June 29. Positive sentiment around sterling was the mover as the British government announced a stimulus package worth 30B pounds on Wednesday.

This is in addition to the news that the European Union and the United Kingdom are about to find common ground about fisheries. Moreover, the EU’s Chief Negotiator, Michel Barnier had said that Brussels is ready to grant the City of London access to EU markets.