Euro edges higher against British Pound as oil surge lifts ECB rate expectations

FXStreet·15 Jul 2026·Read original

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Digital Finance Macro Commodity EURUSD.FOREX ▲GBPUSD.FOREX ▲

Summary · why it matters

The EUR/GBP cross gained momentum to near 0.8535 during early European trading on Wednesday. Traders increased bets on Bank of England and European Central Bank rate hikes as a surge in oil prices reignited inflation fears.

Euro/US Dollar FX Spot Rate ▲UK Pound Sterling/US Dollar FX Spot Rate ▲

Impact on assets 2

Others▲ · 2 stocks

💱Euro/US Dollar FX Spot Rate

EURUSD

▲ PositiveMonetaryrelevance

Oil surge reignites inflation fears, increasing ECB rate hike bets, which strengthens EUR relative to USD.

💱UK Pound Sterling/US Dollar FX Spot Rate

GBPUSD

▲ PositiveMonetaryrelevance

Oil surge reignites inflation fears, increasing BoE rate hike bets, which strengthens GBP relative to USD.

Euro edges higher against British Pound as oil surge lifts ECB rate expectations

Impact on assets 2

Theme Impact

Off-coverage companies

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