GBP/USD could test the 14 February low of 1.2530 – ING

Market news

26 February 2024

GBP/USD could test the 14 February low of 1.2530 – ING

Last week, the Pound Sterling (GBP) was one the top performers in the G10 space alongside the New Zealand Dollar (NZD) and the Swedish Krona (SEK). However, the next few days could be difficult for the GBP. Economists at ING analyze Pound Sterling’s outlook.

EUR/GBP to stabilise around the 0.8550 mark

We see downside risks for GBP/USD as PCE inflation data in the US could help the Dollar, with the pair potentially testing the 1.2530 – 14-February low.

EUR/GBP will be affected by today’s speech from Lagarde and Eurozone CPI data on Friday. Here, we expect some stabilisation around the 0.8550 mark.

Pound Sterling seeks fresh guidance on interest rates

If the ECB aims to bring inflation down to 2%, it has not raised interest rates too much – Natixis

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