GBP: Holding onto gains – ING
Source Fxstreet
Today's UK labour market data has had no discernible impact on Pound Sterling (GBP), ING's FX analyst Chris Turner notes.
GBP to stay bid ahead of the UK-EU summit on 19 May
"Private sector pay growth is starting to slow, but last month's large fall in payrolled employees has been revised up (to -47k from -78k). Far more interesting for the Bank of England will be next week's April CPI services release."
"Before all that, however, we have the UK-EU summit on 19 May. Expect sterling to stay bid ahead of that – potentially even seeing EUR/GBP break below 0.84."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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