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EUR/GBP on its way to 0.7000 – Westpac

FXStreet (Edinburgh) - Richard Franulovich, Strategist at Westpac, sees the cross slipping towards the 0.70 handle and below in the near term.

Key Quotes

EUR/GBP on course to test 0.70 and below in coming sessions”.

“A potential 6mth expansion of the ECB’s QE program and a stepped up pace, perhaps an additional EUR15-25bn per month, not to mention a deposit rate cut, should set the stage for a clean break to fresh 2015 lows for the cross (i.e. sub- 0.6930)”.

“The latest data suggests UK growth momentum may well be ticking higher again, certainly that’s the message from the latest stronger PMIs, retail sales and labour force data”.

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