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Oct 04 - 01:24 PM
EUR/GBP: Still Targeting 0.89 N-Term; GBP To Remain Volatile - Danske
First appeared on eFXplus on Oct 04 - 09:22 AM

Danske Research discusses EUR/GBP outlook and maintains the view that risks skewed to the upside in the near-term with 0.8900 a near-term target.

"The Conservative MP James Duddridge told Sky news that he has submitted a letter of no confidence to Theresa May, and focus in the coming days will be whether other MPs follow Duddridge.

A vote of confidence can only be triggered if 15% of Conservative MPs (48 members) write a letter to the chairman of the 1922 committee asking for such a vote. If a vote is triggered, it would of course increase uncertainty and induce a GBP sell-off," Danske notes. 

"We expect GBP to remain volatile and sensitive to any Brexit-related news in coming months. We target 0.89 in EUR/GBP near term with risks skewed to the upside," Danske argues. 

Source:
Danske Research/Market Commentary

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