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Mikael Olai Milhøj, senior analyst at Danske Bank, suggests that the EUR/GBP cross is unlikely to have a big impact due to the Brexit voting in the UK as markets have probably priced in support for a Brexit extension at this point.

Key Quotes

“If the Commons supports an extension, we could see a small move lower in EUR/GBP. Looking beyond this week, we see a risk investors will be disappointed in the coming weeks/months, which could lead to a higher EUR/GBP, perhaps to the higher end of the 0.85-0.87 range.”