Euro Slips Against Pound on Hawkish Comments from BoE Committee Member

The Euro (EUR) has retreated against the British Pound (GBP), snapping a four-day rally, after hawkish comments from Bank of England committee member Huw Pill provided a boost for the Cable on Thursday.

Pill reiterated the need to raise the BoE's bank rate to 4%, saying 'clear, prompt and decisive policy action and communication would help steer markets and reduce uncertainty.'

The Sterling rallied against its main peers following those comments. The EUR/GBP pair retreated from one-month highs, a few pips above 0.8600, and is testing support at a previous resistance area around 0.8585.