Has the euro bottomed out against the pound?

Has the euro bottomed out against the pound?

04.04.2022

Last weekend, the U.S. dollar traded lower against both the euro and the pound, with the EUR/USD pair falling slightly by 40 pips from 1.107 to 1.102. The U.S. jobs report released last weekend showed the unemployment rate at 3.6%, the lowest level since February 2020, suggesting a hawkish rate hike at the next FOMC meeting; however, this did not lead to a significant rise in the U.S. dollar.

Among European currencies, the euro-pound pair has broken above the upper boundary of its daily downtrend channel, briefly reaching 0.850. This level marks the high for the year, and the pair has already broken above February’s high of 0.847 with a solid candlestick. While a temporary pullback is possible, the euro is gaining ground against the pound, making this a critical juncture to carefully assess whether the upward trend will continue.

Today, the following data releases are scheduled: Germany’s trade balance at 3:00 PM Asia time; Turkey’s consumer price index and producer price index at 4:00 PM Europe time; remarks by Bank of England Governor Bailey at 6:05 PM; Canadian housing starts at 9:30 PM U.S. time; remarks by Bank of England Deputy Governor Kanliff at 11:00 PM; and the U.S. manufacturing orders index.We will carefully assess price movements at the start of the week.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?