Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
In early trading in the European market on Wednesday, EUR/GBP was still limited to the range of 0.8597-0.8607. Market participants await preliminary readings of Germany’s consumer price index for August.…
