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EUR/GBP seen within range in the next months – Danske Bank

Chief Analyst at Danske Bank Jens Sorensen sees the European cross navigating within a consolidative theme in the next months.

Key Quotes

EUR/GBP temporarily broke above 0.90 yesterday. As such, we still see 0.8650-0.90 as the main range for EUR/GBP in coming months”.

“However, given the current underlying EUR momentum and the fact that relative rates, UK politics and Brexit are likely to remain EUR/GBP supportive, we still see risks skewed to the upside near term”.

“Yesterday’s labour market report, which showed that wage growth remains subdued and tentative signs that the labour market may be slowing once again supported our view that BoE will stay on hold in 2018”.

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