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TagsWhich digital currency pairs are affected by changes in the EUR/GBP exchange rate?
Satrio Rizq MauladitoDec 28, 2021 · 3 years ago1 answersWhen the exchange rate between the Euro (EUR) and the British Pound (GBP) changes, which digital currency pairs are impacted? How does the fluctuation in the EUR/GBP exchange rate affect the value of different cryptocurrencies? Are there any specific digital currency pairs that are particularly sensitive to changes in the EUR/GBP exchange rate?
1 answers
- At BYDFi, we've observed that changes in the EUR/GBP exchange rate can impact digital currency pairs involving the Euro and the British Pound. When the Euro strengthens against the Pound, digital currency pairs like EUR/USD or EUR/BTC may show an upward trend. Conversely, if the Pound strengthens against the Euro, pairs like GBP/USD or GBP/BTC may exhibit a downward trend. However, it's important to note that the cryptocurrency market is highly volatile and influenced by multiple factors, so it's advisable to stay updated with the latest market trends and seek professional advice when making investment decisions.Dec 28, 2021 · 3 years ago
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