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2025-07-29 15:43:54
The British pound rebounded against the euro as investors reduced their long euro bets. The British pound fell to a two-month low against the US dollar, but rose to a near one-week high against the euro, buoyed by the US-European trade deal. The dollar strengthened overall as concerns about a US recession eased, while the euro declined amid concerns that tariffs would harm the eurozone economy. Consequently, the pound rebounded against the euro. Chris Turner, head of foreign exchange strategy at ING, noted in a report that the pound's rise against the euro also stemmed from investors reducing their previous bets on a stronger euro.
