EUR/GBP Retreats from Intraday High as Markets Await Flash PMI Data

The EUR/GBP currency pair retreated from its intraday high on Tuesday as markets awaited the release of flash PMI data from both the eurozone and the UK.

The data, due later in the session, will provide a snapshot of the manufacturing and services sectors in both economies. A stronger-than-expected eurozone PMI could reinforce the case for a more hawkish ECB stance, potentially underpinning the single currency.

Conversely, a resilient UK services figure might bolster the pound, especially if it suggests the Bank of England has room to keep rates higher for longer.