- EUR/GBP: More downside room – ING
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24 tháng 11 2023
EUR/GBP: More downside room – ING
EUR/GBP continues to press the 0.8700 support. Economists at ING see the pair staying pressured
Capped upside for Cable
The tax cuts announced by the Treasury are, on paper, a Sterling-positive. They are both pro-growth and pro-inflation and do not seem to have excessively unnerved the bond market.
We expect GBP to keep its decent momentum, especially in EUR/GBP, which we expect to make a decisive break below 0.8700 in the coming days.
We are still expecting some USD resilience and see a capped upside for Cable.
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