EUR/GBP TO EDGE SLOWLY HIGHER TOWARDS THE 0.90 AREA ON A 12-MONTH VIEW

19 Jul 2023, 00:13 · Views 106

Economists at Rabobank discuss GBP outlook.

GBP will stop reacting positively to rate rises over the medium-term

While economic data releases have the potential to spark volatility in GBP crosses, we expect EUR/GBP to remain mostly within a 0.85 to 0.86 range on a one-to-three month view, edging slowly higher towards the 0.90 area on a 12-month view.

As the BoE raises rates further, economic risks also rise. This suggests an increased risk that GBP will stop reacting positively to rate rises over the medium-term.

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EUR/GBP TO EDGE SLOWLY HIGHER TOWARDS THE 0.90 AREA ON A 12-MONTH VIEW – RABOBANK

GBP will stop reacting positively to rate rises over the medium-term