President Joe Biden is shortly due to deliver remarks at the IV CEO Summit of the Americas.
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EURGBP remains bullish following last week’s gains to multi-month highs of 0.8591. The recent rally reinforces a bullish theme and marks an extension of the rally that started from 0.8250, the Apr 14 low. This signals scope for a climb towards the 0.8600 handle next. On the downside, key short-term support has been defined at 0.8367, the May 2 low. Initial support is seen at 0.8468, Apr 27 high.
Politico has reported that 'EU officials are considering offering financial compensation to Hungary in an attempt to persuade Prime Minister Viktor Orbán to sign up to the bloc's proposed sanctions on Russian oil.'