Forex: EUR/GBP hits 5-month low at 0.8627

By IBTimes Staff Reporter | January 28 2010 3:09 AM

FXstreet.com (Barcelona) - The euro has fallen to a low not seen since late August 2009 versus the pound at 0.8627, down around 90 pips from its opening price of 0.8716, late in Asian trading, before easing back to the 0.8640 area at the time of writing.

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This drop comes just before the release of German unemployment and Euro-Zone consumer confidence data.

The FXMarketAlerts Team points to a break of 0.8600 leading to a test of the 0.8500 support level: Eye break of 0.8600 handle for test of 0.8500 on broad based EUR weakness. Offers in EUR/GBP at 0.8600 handle.

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