The pound recovered against the dollar but sold against the euro last week, says the FX analyst of ING, Chris Turner.
EUR/GBP could have another opportunity at the maximum of 0.8730
“As a reserve currency, the pound is participating in this devaluation of the dollar. But the liquidity in euros is greater than that of the pound, and there is probably much more repatriation of financial assets towards the eurozone than towards the United Kingdom, given the large commercial surplus of the block with the United States.”
“For this week, the history of the Libra could be driven more from the macroeconomic side. Tomorrow’s approach will be in the labor market and if unemployment increased before the introduction of higher taxes for employers in early April. Wednesday will focus on inflation, where the inflation of March services is expected to fall to 4.8% year -on -year from 5.0%. Both data present risks to decline.
“EUR/GBP could have another opportunity at the maximum of 0.8730, although a moderate ECB on Thursday could send to EUR/GBP down.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
