EUR/GBP may move to the upper half of the 0.87-0.88 band – ING

EUR/GBP is back at Monday’s close. Economists at ING expect the pair to move to the upper half of the 0.87-0.88 band. 

No domestic drivers

“There is nothing to highlight in the UK calendar today, and the Pound should continue to be driven by Dollar dynamics.”

“EUR/GBP initially had a positive reaction to the BoJ announcement, likely due to GBP’s higher sensitivity to the adverse response in global equities, but is now back at yesterday’s close.”

“Still, GBP downside risks should be larger than for the Euro if risk sentiment remains pressured today, and EUR/GBP may move to the upper half of the 0.87-0.88 band.”