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Chief Analyst at Danske Bank Jakob Christensen assessed the recent price action around the European cross.

Key Quotes

EUR/GBP trended higher last week on the back of deteriorating Brexit optimism and on the news that the dissatisfaction with Theresa May’s Brexit plan is increasing within the UK Conservative party”.

“We still see risks skewed to the upside for EUR/GBP in coming months ahead of December’s EU Summit meeting. Today, we will keep an eye on the UK budget as the government’s supporting party, the DUP, previously threatened to vote down the budget if the UK government is set to make any kind of border control deal between Northern Ireland and Great Britain as part of a future withdrawal agreement with the EU”.