EUR/GBP appears to be buying and selling fairly comfortably above April’s spike excessive close to 0.8735, ING’s FX analyst Chris Turner notes.
GBP/USD appears extra susceptible
“A transfer as much as 0.88 isn’t assured, nonetheless, since this week’s eurozone information may weigh a bit of on the euro. On the similar time, sitting lengthy EUR/GBP in quiet August markets is once more carry adverse and a really mild UK calendar this week appears unlikely to offer the incentives so as to add to brief sterling positions. Maybe EUR/GBP can commerce one thing like a 0.8700-0.8770 vary this week.”
“GBP/USD appears extra susceptible. Right here, we favour a retest of respectable help at 1.3370, beneath which losses can speed up – maybe all the best way to 1.3150 if the US information/FOMC occasion threat this week is greenback constructive sufficient.”
