- Analytics
- News and Tools
- Market News
- Danske Bank expect EUR/GBP to move higher in coming months ahead of and after the triggering of Article 50 and target EUR/GBP at 0.87 in 3M
Danske Bank expect EUR/GBP to move higher in coming months ahead of and after the triggering of Article 50 and target EUR/GBP at 0.87 in 3M
"The UK government suffered its second defeat in the House of Lords in less than a week, as the Lords voted for an amendment to the EU bill demanding a 'meaningful vote' on the final Brexit deal (366 voted in favour, 268 voted against). On Wednesday, the Lords amended the EU bill by demanding protection of EU citizens currently living in the UK, see also Brexit Monitor #23: PM May still set to trigger Article 50 before 'end of March' despite defeat in House of Lords, 2 March. Note that the Lords voted against a second referendum on the final Brexit deal (a proposal by LibDems).
....EUR/GBP has depreciated recently and is currently trading at 0.866. We expect EUR/GBP to move higher in coming months ahead of and after the triggering of Article 50 and target EUR/GBP at 0.87 in 3M.
That said, EUR/GBP is not only affected by political uncertainty in the UK but also in Europe, not least due to the French presidential election, which may put downward pressure on EUR/GBP if Marine Le Pen gains momentum in polls and markets begin to price in a political risk premium in the euro".
Copyright © 2017 Danske, eFXnews™
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
