Improved risk sentiment pushes the pound to a five-week high against the euro.

Jin10 data reported on May 12, the market risk sentiment has improved, with the British pound rising to a five-week high against the euro. Francesco Pesole, an analyst at ING, stated that the UK’s trade situation has improved following agreements with the United States and India, and upcoming negotiations with the European Union, which has also provided support for the pound. The cautious stance of the Bank of England on interest rate cuts is another supporting factor. The euro fell to a low of 0.8421 against the pound, and ING believes there is room for this currency pair to break below 0.84.