FXStreet reports that economists at Credit Suisse discuss EUR/GBP prospects.

“On the GBP-positive side, there are ongoing signs of UK labour market shortages and corresponding upward wage pressure. On the other hand, these highly publicized shortages have reminded markets that the UK could pay a growth price for high input costs and supply-chain difficulties.” 

“Our base case target of EUR/GBP 0.8450 is probably closer to ‘heaven’ (hopes for BoE rate hikes allow for persistent rate support) than ‘hell’ (EUR/GBP explodes to 0.9000 where it started 2021 due to the negatives discussed above dominating). But we acknowledge that GBP now needs a solid risk premium, and we have given up on Q3 expectations for a move to EUR/GBP 0.8300.”