Euro Edges Closer to Three-Month Highs Amid Eurozone Data and Hawkish BoE Comments

The Euro maintained its strength against the British Pound on Thursday, hovering around the 0.8600 area and nearing three-month highs at 0.8607.

This appreciation comes despite both currencies struggling against the US Dollar, as strong data from the Eurozone offsets hawkish comments from the Bank of England (BoE).

The German IFO Business Climate Index improved to 89.9 in September, beating market expectations and its previous reading of 88.8.

BoE's Deputy Governor Clare Lombardelli hinted at rate hikes, stating that interest rates would need to rise if elevated energy prices persist, unless there is clear evidence of economic growth weakening.