Two months ago, EUR/GBP looked destined for the junk heap. The outbreak of war in Ukraine and a then relatively dovish European Central Bank in comparison to the Bank of England had pushed the pair temporarily beyond the 0.8310 precipice more than once. A downtrend at that time seemed all but inevitable. Remarkably, those dark times proved very short lived. As confidence in the UK economy unravelled and the ECB gradually tilted more hawkish, the pair managed, but only briefly, to touch a high of 0.87213 on the 15 June.
