EUR/GBP may struggle to hold on to recent gains – ING

Sterling continues to lose ground. Economists at ING analyze GBP outlook.

Flagging downside risks to the 1.2000 area in Cable

In the UK, the economic calendar is looking empty today, with no scheduled central bank speakers. 

We continue to flag downside risks to the 1.2000 area in Cable, while EUR/GBP may struggle to hold on to recent gains as Sterling’s recent underperformance relative to the euro starts to look a bit overdone now that the big bulk of the Bank of England repricing has happened.