The Pound Sterling (GBP) was solely flippantly touched by a consensus Financial institution of England maintain on Thursday, ING’s FX analyst Francesco Pesole notes
EUR/GBP to stay bullish within the coming months
“The dearth of recent steering has been the norm within the newest BoE conferences, and the vote break up tends to be one of many only a few metrics of hawkish-dovish tendencies. Yesterday’s 6-3 vote break up for a lower will be interpreted marginally on the dovish aspect and is permitting markets to strengthen their conviction name on an August lower.”
“We solely anticipate two cuts this yr two cuts this yr, however markets could also be tempted on the dovish aspect by comfortable UK knowledge, and we stay typically bullish in EUR/GBP in our multi-month view.”
