EUR/GBP Slips as Strong PMIs Cancel Out Amid Iran De-Escalation Signals

The EUR/GBP currency pair slipped in value as strong Purchasing Managers Index (PMI) data from both the Eurozone and the UK failed to have a significant impact on the market.

German manufacturing led the way with a multi-year high, but German services slipped back into contraction, keeping the Euro's performance mixed.

The Iranian President Masoud Pezeshkian stated that Iran wants to end its conflict with the US now, 'from a position of strength', and with the world acknowledging 'its victory'. This signals a potential de-escalation in tensions.