Home EUR/GBP to stay within the 0.86-0.89 range – Danske Bank
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EUR/GBP to stay within the 0.86-0.89 range – Danske Bank

Valtteri Ahti, chief strategist at Danske Bank, notes that the EUR/GBP cross is little changed despite rising political turmoil in the UK after seven labour MPs yesterday left the party in protest.

Key Quotes

“In isolation, this is not a game changer, in our view, and even if other MPs from both sides follow and leave the two big parties, the implications for Brexit and thus GBP are unclear.”

“We expect EUR/GBP to stay within the 0.86-0.89 range short term with Brexit negotiations as the key driver for the cross. Unless prospects of a deal improves, appetite for GBP could come under pressure as the next Brexit vote in the UK House of Commons moves closer (expected on 27 February).”

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