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Mar 14 - 08:55 AM

EUR/GBP - ECB Dove Backs Two Cuts Before Summer Break, EUR/GBP Falters

By Justin Mcqueen  —  Mar 14 - 06:40 AM
  • EUR/GBP -0.2%, stumbles following dovish ECB remarks

  • Stournaras "we have to cut rates twice before summer break"

  • Given ECB Lagarde's lean against an April cut due to a lack of (wage) data

  • This would suggest rate cuts in both the June/July meetings

  • Policy easing by July = 38bps 0#ECBWATCH

  • Possible compromise among doves to forgo April cut for June/July cuts

  • Stournaras also noted four cuts seem reasonable. Pricing = 92bps

  • Support remains at 0.85. Close below would negatve bullish bias

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Refinitiv IFR Research/Market Commentary


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