British Pound: BoE hawkish shift could support gains against Euro – ING
ING’s Chris Turner writes that EUR/GBP has been pressured by French-related Euro risk but Sterling may gain further support if the Bank of England aligns with other central banks and hikes rates. Markets will watch centrist policymakers Andrew Bailey and Claire Lombardelli for any hint of backing a hike. ING sees strong support at 0.8455/0.8465, with potential tests of 0.8400 if a November hike…
ING analyst Chris Turner suggests that the British pound (GBP) may see gains against the euro (EUR) if the Bank of England (BoE) adopts a hawkish stance and raises interest rates. The move would align the UK's central bank with other major central banks, potentially boosting Sterling. Market watchers will be keenly observing centrist policymakers Andrew Bailey and Claire Lombardelli for any indication of supporting a rate hike.
ING has identified strong support at 0.8455/0.8465 for EUR/GBP, with potential tests near 0.8400 should a November rate hike appear likely.
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