Mikael Milhoj, Senior Analyst at Danske Bank, believes the European cross could extend the sideline theme for the time being. Key Quotes “As we predicted, the rally in GBP on the back of the highly expected rate hike from the Bank of England yesterday proved short-lived and EUR/GBP has bounced back above 0.89 again”. “The market is now pricing that the Bank Rate will reach 1.25% in August 2021, which is consistent with our expectations of one hike per year”. “Hence, UK yields are not likely to be a positive for the GBP near term and we look for EUR/GBP to remain range bound (most likely within 0.875-0.895) near term, with Brexit uncertainty expected to remain the key source of volatility. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US NFP and UK Services PMI amongst market movers today – Danske Bank FX Street 5 years Mikael Milhoj, Senior Analyst at Danske Bank, believes the European cross could extend the sideline theme for the time being. Key Quotes "As we predicted, the rally in GBP on the back of the highly expected rate hike from the Bank of England yesterday proved short-lived and EUR/GBP has bounced back above 0.89 again". "The market is now pricing that the Bank Rate will reach 1.25% in August 2021, which is consistent with our expectations of one hike per year". "Hence, UK yields are not likely to be a positive for the GBP near term and we look for EUR/GBP… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
