The Pound to Euro exchange rate has drawn interest from dip buyers upon slippage below the 1.17 handle but could struggle to extend its nascent rebound by much above the 1.18 level in the week ahea…
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"The lack of GBP reaction to the government’s GBP15bn support package for households is revealing" - HSBC.
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According to analysts at Barclays the answer to the question of where the Euro heads next could actually be found in China.
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Euro exchange rates rose at the start of the new week after European Central Bank President Christine Lagarde cemented expectations for a July interest rate hike.
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The Pound to Euro rate has lifted off early May lows but could be likely to consolidate its recent gains within roughly a 1.1771 to 1.1867 range over the coming days due in part to the prospec…
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July rate hike now very likely at the ECB with a 50bp hike now preferred, this is supportive of EUR for now but any pushback by the central bank could undermine recent gains.
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"Should that narrative persist and lead the BoE to raise rates by less than what forwards anticipate ... the currency could weaken more than our forecasts imply" - Barclays.
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