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Sep 28 - 02:55 PM

EUR/GBP: BoE Hawkish Theme May Well Pressure EUR/GBP Back To The 0.8500 Lows - ING

By eFXdata  —  Sep 28 - 01:30 PM

ING Research maintains a GBP bullish outlook vs EUR, expecting a dip back to the 0.8500 lows.

"Even though we felt the BoE Bailey's speech yesterday was largely a repetition of what had been seen in last week's BoE communication, GBP interest rate markets are still moving higher. 1m GBP OIS priced two year's forward is now 0.82% - up 30bp this month already," ING notes. 

"We do not expect the BoE to deliver on the hawkish expectations priced by the market, but for the time being this theme may well pressure EUR/GBP back to the 0.8500 lows," ING adds. 

Source:
ING Research/Market Commentary

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