Investing.com – The euro edged higher against the pound on Monday, after a string of better-than-expected euro zone data but gains were capped amid concerns over escalating unrest in the Middle East.
EUR/GBP hit 0.8444 during European morning trade, the pair’s highest since Thursday; the pair subsequently consolidated at 0.8435, easing up 0.14%.
The pair was likely to find support at 0.8358, Friday’s low and resistance at 0.8476, the high of February 11.
Earlier in the day, German research institute, Ifo said its Business Climate Index rose more-than-expected in February, to hit a new all time high.
Separate reports showed that the euro zone's manufacturing Purchasing Managers' Index rose to 59 from 57.3 in January, the highest reading since June 2000, while the Services Business Activity Index rose to 57.2 in February from 55.9 the previous month, marking the strongest reading since August 2007.
Economists were expecting the the manufacturing PMI to dip to 57.2 and the services reading to rise to 56.
Meanwhile, the euro was down against the U.S. dollar, with EUR/USD slipping 0.09% to hit 1.368.
Also Monday, industry data showed that house prices in the U.K. climbed for a second month in February.
EUR/GBP hit 0.8444 during European morning trade, the pair’s highest since Thursday; the pair subsequently consolidated at 0.8435, easing up 0.14%.
The pair was likely to find support at 0.8358, Friday’s low and resistance at 0.8476, the high of February 11.
Earlier in the day, German research institute, Ifo said its Business Climate Index rose more-than-expected in February, to hit a new all time high.
Separate reports showed that the euro zone's manufacturing Purchasing Managers' Index rose to 59 from 57.3 in January, the highest reading since June 2000, while the Services Business Activity Index rose to 57.2 in February from 55.9 the previous month, marking the strongest reading since August 2007.
Economists were expecting the the manufacturing PMI to dip to 57.2 and the services reading to rise to 56.
Meanwhile, the euro was down against the U.S. dollar, with EUR/USD slipping 0.09% to hit 1.368.
Also Monday, industry data showed that house prices in the U.K. climbed for a second month in February.