The Pound was slightly weaker after an initially positive reaction to the BoE statement. Economists at ING believe that the EUR/GBP pair is set to break above 0.9000 in the coming months.

EUR/GBP may manage to stay below 0.9000 for now

“It appears that the BoE is not diverging much from market expectations, which means that it may be up to data in the UK to drive any large swings in the Pound rather than surprises from the BoE.”

“With markets doubting the ECB's hawkishness, EUR/GBP may manage to stay below 0.9000 for now, although a break higher seems highly likely over the coming months.”