BUZZ-EUR/GBP rises to 11-day high as European shares slide 2%

European shares slide 2%

  
A LONDON BANK WORKER COUNTS OUT EURO NOTES. Image used for illustrative purpose.

A LONDON BANK WORKER COUNTS OUT EURO NOTES. Image used for illustrative purpose.

REUTERS/Russell Boyce

* EUR/GBP rises to 0.8579 as global equity losses weigh on risk-sensitive GBP

* European shares slide 2% as Evergrande's troubles cast shadow 

* Euro is on a higher rung of the safe-haven ladder than the pound

* 0.8579 is the highest level since Sept 9 (0.8587 was the high that day)

* Offers may emerge around 0.86 if EUR/GBP extends north (0.8614 = Sept 7 top)

* 0.8552 (Friday's high) is now a support point.

0.8547 = GBP/EUR 1.17

(Robert Howard is a Reuters market analyst. The views expressed are his own) ((robert.howard@thomsonreuters.com))


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