Euro faces challenges, April rate cut

The EURGBP pair regained ground on Wednesday following the release of downbeat consumer price index (CPI) data from the UK, trading around 0.8340 in early European market hours. In February, the UK CPI rose 2.8% year-over-year, slowing from January’s 3.0% increase and missing market expectations of 2.9%. Despite the decline, inflation remains above the Bank of England’s 2% target. Meanwhile, core CPI, which excludes food and energy prices, increased by 3.5% YoY, easing from January’s 3.7% and coming in below the forecasted 3.6%. The Pound Sterling faced additional pressure after the BoE left interest rates unchanged at 4.5% last week.

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Euro faces challenges, April rate cut

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