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Economists at Danske Bank expect EUR/GBP to move higher near-term, trading at 0.90 in next quarter. Longer-term, though, they see the pair moving lower to the 0.86 level.

Key quotes

“While we target EUR/GBP at 0.90 in one-to-three month, we would not be surprised to see the cross move as high as 0.92. Key risks to this call are a trade deal landing more smoothly than we envisage, an extension and/or global risk sentiment continuing to improve on the back of reopenings backed by past extensive policy stimulus.”

“If we are right about the two sides reaching an agreement eventually, we think the cross will move lower again to something like 0.86 in six-to-twelve months.”

 

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