Friday’s forthcoming statement from the UK and EU negotiators could provide crucial direction for the pound. The 0.91 level is the level to expect on the EUR/GBP pair in one month, according to analysts at Rabobank.
Key quotes
“On any announcement of a break-through in trade talks we would expect GBP to jump higher – although it is possible that a lack of detail in the plan could soon sap optimism.”
“If the negotiators fail to bridge their differences, GBP will be pressured by an increase in expectation that WTO terms will be in place between UK and EU trade at the start of the year.”
“Our pessimistic outlook puts EUR/GBP at 0.91 on a one month view.”
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