EUR/GBP rallies a fade? - Scotiabank
|Analysts at Scotiabank explained that the GBP is little changed against the USD amid all the post-election volatility, leaving it down sharply against the EUR.
Key Quotes:
"CBI Trends survey showed a drop in UK business optimism to 1 this month (12 expected and 15 in Mar); selling prices were steady over the month at 29 (versus 27 expected)."
"Despite the pop in the EUR/GBP cross, we think the EUR will struggle to extend above the 0.8550 area overall. We still rather think EURGBP rallies are a sell from a fundamental point of view with a lot of Brexit risk priced into sterling and perhaps a bit too much post-election froth in the EUR."
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