EUR/GBP trades comfortably slightly above the 0.86 level. Economists at ING expect the pair to continue moving around this zone.

Quite resilient

“Sterling has weathered news of another potential Scottish referendum (19 October 2023) quite well. That may well be because the chances of Westminster granting it are unlikely – though it looks like markets may be buffeted by UK supreme court opinions on this matter over coming months and quarters.”

“Look out for remarks from Governor Bailey today. With inflation staying near the highs, we doubt Governor Bailey will want to push back too much against tightening expectations today.” 

“EUR/GBP can continue to trade near 0.8600, while cable looks more vulnerable.”