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Jan 18 - 07:55 AM

EUR/GBP - EU/UK Yield Spreads Signal Limited EUR/GBP Downside Appeal

By Justin Mcqueen  —  Jan 18 - 05:45 AM
  • Despite the post-UK CPI fuelled drop in EUR/GBP, the cross remains contained

  • In part, UK CPI continues to lag behind BoE forecasts nL1N3E70WT

  • Meanwhile, DE/UK rate spreads suggests EUR/GBP downside is limited

  • Support resides at 0.8550 (Dec low) and 0.8500

  • Topside resistance situated at 0.8640-50 (55-100-200DMA)

  • For now, the broad 0.8550-0.8750 range will likely hold

  • COMMENT-Euro zone wage tracker supports the ECB hawks nL1N3E60WT

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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