A modest upward bias prevails in EUR/GBP on Tuesday, with cheaper oil helping the Euro (EUR) gain ground against most major currencies. The cross is trading around 0.8357 at the time of writing, a gain of 0.10% for the day. It nevertheless remains within a range near levels last recorded in April 2025. Prospects of a diplomatic breakthrough between the US and Iran have reduced concerns over renewed strikes, keeping crude prices under pressure. Down about 16% so far this month, West Texas Intermediate (WTI) is slipping towards $83 a barrel, its lowest since 31 August. For the Eurozone, which depends heavily on energy imports, cheaper oil provides some relief. French bonds are also finding some relief from the improvement in market sentiment.
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