EUR/GBP: Year-end target remains at 0.84 after BoE and ECB – Danske Bank By MSalordFX EURGBP BOE Banks
Key Quotes: to deliver four additional 25bp rate hikes this year versus two additional hikes previously. Our new BoE call remains slightly less aggressive than markets pricing, where five rate hikes are priced in.”
“We are still of the view that the level of around 0.83 was the bottom in the cross, as relative rates now seem more supportive for EUR than GBP, as BoE rate hikes are already priced in and the“Overall, we still see the 2022 investment environment as USD-positive, which is usually benefitting GBP relative to EUR, which we believe will dominate slightly. Hence, we continue targeting EUR/GBP at 0.84 in 12M.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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