Nordea Research sees a scope of higher EUR/GBP on the potential Brexit uncertainty over the coming weeks.
"Here we go again. Brexit-risks are back in the limelight as Boris Johnson considers invoking Article 16 in the Northern Irish protocol, which will throw the parties back at the negotiations table. This is a digital risk event for the GBP and BoE," Nordea notes.
"We judge that EUR/GBP is headed back towards 0.88 should the Brexit-uncertainty be re-introduced and it will likely also at least partly wreak havoc with Bank of Englands hiking plans," Nordea adds.