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9 Feb 2015
Better prospects for the GBP vs. EUR and USD – Rabobank
FXStreet (Edinburgh) - Jane Foley, Senior Currency Strategist at Rabobank, sees EUR/GBP retreating to the 0.73 level towards year-end.
Key Quotes
“Even though the UK economy is managing to grow, there are still headwinds”.
“As reflected in the release of UK December trade data, weak levels of activity in the Eurozone are impacting the UK’s external sector”.
“Also, austerity will continue post the May election. However, labour market conditions are continuing to tighten and the BoE is still likely to be one of the first developed world central banks to hike interest rates this cycle”.
“We expect EUR/GBP to push down towards 0.73 later this year and to fall further in 2016. We see risk of cable consolidating above the 1.50 level in the coming weeks”.
Key Quotes
“Even though the UK economy is managing to grow, there are still headwinds”.
“As reflected in the release of UK December trade data, weak levels of activity in the Eurozone are impacting the UK’s external sector”.
“Also, austerity will continue post the May election. However, labour market conditions are continuing to tighten and the BoE is still likely to be one of the first developed world central banks to hike interest rates this cycle”.
“We expect EUR/GBP to push down towards 0.73 later this year and to fall further in 2016. We see risk of cable consolidating above the 1.50 level in the coming weeks”.