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- EUR/GBP to plunge towards 0.82 over the coming months – ING
EUR/GBP to plunge towards 0.82 over the coming months – ING
Recent euro weakness has seen EUR/GBP drift lower again. Economists at ING expect the pair to tumble towards the 0.82 level.
EUR/GBP can probably continue to bounce around the 0.83-0.84 range
“We have a target over the coming months near 0.82 – though that may be the extent of the GBP rally this year. The challenge for GBP will be if and when year-end market expectations for the Bank of England's (BoEs) bank rate adjust closer to 1.00/1.25% (our house call) versus the 2%+ currently priced. That adjustment is probably a 2H22 story for sterling.”
“For today, look out for a speech from BoE chief economist Huw Pill. Given high inflation that will go higher he may not want to issue a rate protest today. Thus, EUR/GBP can probably continue to bounce around the 0.83-0.84 range.”
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