Euro Holds Ground Against GBP Amid Improving German Data

The Euro (EUR) has stabilized against the British Pound (GBP) at around 0.8575, following a series of positive economic releases from Germany.

The GfK Consumer Confidence Index rose to -26.6 in September, beating market expectations and adding to the improving picture for the Eurozone's largest economy.

Rabobank's FX team expects range-bound trading in EUR/GBP over the coming weeks, with a mild upside bias later in the year as fiscal realism weighs and Bank of England (BoE) rate hike risk is further priced out.