- Analytics
- News and Tools
- Market News
- EUR/GBP set to drop below the 0.83 next month – ING
EUR/GBP set to drop below the 0.83 next month – ING
Mood continues to sour ahead of the weekend. This is the main reason for the EUR/GBP correction higher. But economists at ING expect the pair to break below 0.83 as the Bank of England (BoE) will hike rates at its next meeting on February.
Only a small correction higher in EUR/GBP
“This morning’s quite weak January consumer confidence and December retail sales numbers did not hit the pound particularly hard, with the recovery in EUR/GBP mostly due to the unsupportive global risk sentiment to which the pound is more exposed than the euro.”
“We think that EUR/GBP has further to drop on the back of policy divergence as we expect the BoE to hike rates again in February, a month where we could well see a break below the 0.8300 level in the pair.”
© 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
