EUR/GBP to remain range bound around 0.87-88 – Danske Bank
|EUR/GBP has recently breached the 0.87 level, the lowest level since December 2022.
Range bound
“EUR/GBP is stuck between opposing forces. On the one hand, we expect relative rates and near-term broad EUR optimism to act as a tailwind for the cross. On the other hand, we see the global growth slowdown and the relative appeal of UK assets acts as a headwind.”
“At present, we do not see the relative growth outlook or global investment environment to create significant divergence between EUR and GBP. We thus expect the cross to remain range bound around 0.87-88.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.