It is fascinating to see EUR/GBP nonetheless buying and selling fairly softly regardless of some higher information on world commerce, ING’s FX analyst Chris Turner notes.
Sterling holds agency as EUR/GBP trades comfortable
“By nature of the UK’s higher commerce place with the US and the truth that the UK has a commerce deal, EUR/GBP usually ought to commerce higher bid on optimistic commerce information. Little question sterling’s comparatively excessive rates of interest (4.30% every year on a one-week deposit, versus 2.2% for the euro) are serving to right here. And there appears to be much less concern over a tricky UK authorities spending evaluation on 11 June.”
“EUR/GBP appears comfy down right here within the 0.8350-0.8400 space.”
