The euro continued its recovery in the London trade as discussions between the political parties in Italy try to avoid the need for an early election. That progress towards a viable coalition has come a long way to reduce concerns about a possible political crisis with the emergence of a Eurosceptic government that could negatively affect the stability of the euro zone. The sense of relief among FX traders helped push the Euro to a 3-day peak.
As reported at 11:17 a.m. (BST) in London, the EUR / USD was quoted at $ 1.1685, a gain of 0.16% and outside the peak of the session of $ 1.7243, while the minimum is recorded at $ 1.16481. The EUR / GBP is trading at 0.8771 Pence, 0.11%; the pair has varied from a session minimum of 0.87650 Pence to a peak of 0.87912 Pence.
Highest pound after BoE data
In the United Kingdom, the Pound is receiving some support from the unexpectedly optimistic economic data that pushed the GBP / USD pair higher to $ 1.3319, a gain of 0.26%. According to the Bank of England, the consumer credit for April is up to £ 1,832 million, much more than the £ 1,832 million expected, while the March figure was revised upwards. Net loans to individuals also improved to £ 5.7 billion against forecasts of a decrease of £ 5.2 billion.