Chief Strategist at Danske Bank Valtteri Ahti assessed the recent price action around the British Pound. Key Quotes “GBP gained substantially yesterday initially driven by month-end flows and likely also positioning ahead of the Bank of England meeting today. Overnight, EUR/GBP took another steep decline to 0.88165 on positive Brexit news posted by a letter from UK Brexit Secretary Dominic Raab, saying that that UK banks will get continued access to the EU markets after Brexit and that he expects a deal to be reached on 21 November”. “Brexit remains the key driver for GBP and we still expect EUR/GBP to remain very volatile with risks skewed to the upside until a deal is reached. Given the recent weakness in UK growth data and not least weak growth and activity data in the eurozone and China this week, we see expect the BoE to strike a somewhat more cautious tone today, stressing that future rate hikes in the UK depend on data. If we are right on the BoE, this could be the catalyst for a rebound in EUR/GBP today”. 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 Gold stages a solid rebound from 3-week lows amid notable USD supply FX Street 4 years Chief Strategist at Danske Bank Valtteri Ahti assessed the recent price action around the British Pound. Key Quotes "GBP gained substantially yesterday initially driven by month-end flows and likely also positioning ahead of the Bank of England meeting today. Overnight, EUR/GBP took another steep decline to 0.88165 on positive Brexit news posted by a letter from UK Brexit Secretary Dominic Raab, saying that that UK banks will get continued access to the EU markets after Brexit and that he expects a deal to be reached on 21 November". "Brexit remains the key driver for GBP and we still expect 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.
