EUR/GBP: Range set to persist – Rabobank
RaboResearch Global Economics & Markets’ FX Strategy team assesses EUR/GBP in light of UK politics, growth and monetary policy. They note the Pound’s recent support from stronger UK GDP, but expect GBP bulls to stay cautious ahead of the October 28 budget.
Rabobank's FX Strategy team predicts the EUR/GBP exchange rate will remain in a range for the upcoming weeks, mainly due to factors related to UK politics, growth, and monetary policy. The pound has found support this morning following better-than-expected UK GDP data, but the team anticipates GBP bulls will remain cautious before the October 28 budget.
Eurozone growth challenges and political risks in France and Germany limit the EUR's upside potential, leading to a forecast that EUR/GBP will stay within its current range. The team will reassess their medium-term EUR forecasts in the coming days.
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