//
Forex traders might be interested to note the single currency was trading at 83.40 pence earlier in the day following a fairly successful Portuguese bond auction yesterday, Reuters reports.
But a London-based spot trader pointed out: "EUR/GBP could come under real pressure if the auctions disappoint. For now I prefer to sell a break of 82.80 for a target of 81.60."
And the size of the single currency's bailout fund could be a topic of conversation today as Spain and Italy are both set to hold bond auctions.
But yesterday saw the euro edge up against the pound by 0.2 per cent, despite starting the day flat.
In addition to this, a London trader stated: "We have seen good sterling demand against the crosses and corporate selling interest in euro/sterling around 0.8330."
Posted by Chris Weaver
