EUR/GBP SEEN STABILISING AROUND THE 0.8500 OR TRADING CLOSER TO THE BIG 0.8500 SUPPORT IN THE SHORT TERM – ING
Economists at ING analyze Pound Sterling (GBP) outlook ahead of Thursday’s Bank of England (BoE) decision.
GBP may absorb any further recovery in the Dollar better than most other currencies
February’s CPI figures released on Wednesday could have a big say in what the BoE announces on Thursday. The focus will remain on services inflation, which we expect to decelerate but remain elevated at 6% (also in line with the Bank’s forecasts).
After dropping its hawkish tone in February, we don’t see the Bank being in any rush to take further steps to the dovish side of the spectrum just yet, at least barring a major downward surprise in CPI on Wednesday.
Ultimately, the Pound may absorb any further recovery in the Dollar better than most other currencies, and we see EUR/GBP stabilising around the 0.8500 or trading closer to the big 0.8500 support in the short term.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.