GBP/USD could climb as high as 1.3750 – ING
|Political noise in the UK is certainly not impacting the pound. Economists at ING expect EUR/GBP to drift to the 0.8270/80 area neighborhood and GBP/USD to lurch higher towards 1.3670 or even 1.3750.
Onwards and upwards
“Unsurprisingly political risk has not damaged GBP, where the focus remains squarely on whether the BoE hikes 25bp on February 3rd. The market tried to dissect yesterday's testimony from Governor Bailey - especially on the issue of Quantitative Tightening - but the Short-Sterling interest rate strip barely budged.”
“We continue to favour EUR/GBP drifting to the 0.8270/80 area.”
“Cable could drift back to 1.3670 or even 1.3750 if we are over-estimating dollar strength.”
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.