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EUR/GBP could visit 0.69 in 6-month – Danske Bank

FXStreet (Edinburgh) - Analysts at Danske Bank suggested the cross could test the 0.69 handle in the medium-term.

Key Quotes

“In the short term, we expect EUR/GBP to remain supported by low UK inflation”.

“In the coming months we expect trading to be relatively volatile and trendless”.

“We have kept our 1M and 3M forecast unchanged at 0.71 and 0.70 respectively, while GBP/USD is expected to drop to 1.51 in 3M”.

“As inflation bottoms out and a BoE rate hike moves closer, we expect EUR/GBP to trade gradually lower over the medium term”.

“Consequently, we now think that EUR/GBP is more likely to bottom in Q1 16 rather than during autumn 2015. We have kept our 6M target for EUR/GBP unchanged at 0.69”.

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