- Analytics
- News and Tools
- Market News
- Stronger EUR/USD could carry GBP/USD back to the 1.2570/2600 area – ING
Stronger EUR/USD could carry GBP/USD back to the 1.2570/2600 area – ING
Cable has come a long way very quickly and has now reclaimed the big 1.25 level. GBP/USD could climb back to the 1.26 area on a stronger EUR/USD fueled by robust eurozone Consumer Price Index (CPI) data, economists at ING report.
Overcooked?
“Short-term financial fair value models have gone a little awry, where yield curves and equity markets are now bigger drivers of sterling than rate differentials. In other words, it looks as though sterling is being traded more on growth prospects at the moment.”
“European FX could get a small lift today if eurozone CPI surprises on the upside and the ECB hawks come out in force. That could carry EUR/GBP back to 0.8450/60, but a stronger EUR/USD could carry GBP/USD back to the 1.2570/2600 area on the day.”
See – Eurozone HCPI Preview: Forecasts from six major banks, not peaking yet
© 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
