Market news
07.04.2021, 09:42

EUR/GBP to decline towards 0.84 fueled by UK's vaccination success – Credit Suisse

FXStreet reports that economists at Credit Suisse still see scope for the EUR/GBP pair to move lower, targeting 0.8400.

“In terms of administering covid vaccine first doses, the UK stands as the clear leader among major economies, even if it is lagging when it comes to second doses. This unusual approach of getting first doses out as fast as possible seems to have worked, based on collapsing cases and especially hospitalization numbers.”

“The 5% decline seen in EUR/GBP in Q1 is among the strongest declines seen in the history of the cross. This reflects clear divergence in growth prospects seen in Q1 between the UK and euro area relative to expectations at the end of 2020. But this also reflects a starting point which was one of the weakest GBP levels seen since then too. This suggests more GBP gains are possible, and we would look to sell rallies towards EUR/GBP 0.8750, targeting 0.8400 medium-term (stop: 0.8840).”

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location