Euro weakens against British Pound as attention turns to inflation data and BoE - www.tmgm.com

Trading at around 0.8336 at the time of writing, EUR/GBP is down 0.11% on Tuesday, reversing part of the previous day’s modest advance. Monday’s sharp fall in oil prices had eased pressure on the energy-dependent Eurozone, lending support to the Euro (EUR). A Wall Street Journal (WSJ) report that Washington had conducted limited strikes on Iran’s Qeshm Island has prompted a recovery in oil prices. West Texas Intermediate (WTI) is up 2.45%, trading above $97, following a loss of nearly 7% on Monday. That earlier fall came after reports that Iran’s President said the Supreme Leader had given the government greater authority over negotiations.