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EUR/GBP attention to the downside – Danske Bank

FXStreet (Edinburgh) - The cross could well resume its previous decline in light of today’s BoE minutes, suggested Flemming Nielsen, Senior Analyst at Danske Bank.

Key Quotes

EUR/GBP currently trades very close to our short-term financial model’s fair value estimate of 0.80”.

“According to our short-term financial model, a 10bp increase in relative rates (2-year swap spread) between the UK and the EU should - everything else being equal - lower the fair value estimate by around one figure to 0.79 and thus this is probably today’s potential in the event of hawkish minutes”.

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Martin Van Vilet from ING suggests that Eurozone August PMI, due out on Thursday, should drop somewhat from the come above the 50 growth/contraction level.
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USD/CHF eyes the area around 0.9150 – Commerzbank

The pair continues its rally and it could advance to 0.9115 ahead of the 200-w MA at 0.9157, according to Axel Rudolph, Senior Technical Analyst at Commerzbank...
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