EUR/GBP to trade on the soft side of an 0.8850-0.8900 range – ING
|Today's UK employment data saw EUR/GBP drop 15 pips – a move that makes sense, in the view of economists at ING.
The longer the BoE stays in hawkish mode, the more support Sterling can get
“We describe today's release of November jobs figures as ‘another month of relative resilience in the UK jobs market’. Wage growth was a little higher than expected and supports the latest findings from the Bank Of England's Decision Maker Panel survey.”
“EUR/GBP is trading close to 0.89 because of December's hawkish ECB shift. The longer the BoE stays in hawkish mode, the more support Sterling can get.”
“Expect EUR/GBP to trade on the soft side of an 0.8850-0.8900 range today, with tomorrow's UK CPI release proving the next major input.”
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.