Today and tomorrow, we will hear from Bank of England Governor Andrew Bailey. However, the Pound should rapidly default to being driven by external factors, economists at ING report.
GBP/USD is a USD story and EUR/GBP is a EUR story
“With virtually nothing to highlight on the data side, GBP may be moved by Bailey’s words but should rapidly default to being driven by external factors.”
“Essentially, GBP/USD is a USD story and EUR/GBP is a EUR story.”
“We still think Cable can reach 1.2500 this quarter, and that the EUR looks marginally more attractive than GBP, and EUR/GBP should move back to 0.8900.”
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