GBP: Some movement in UK swap rates – ING
Source Fxstreet
UK rates softened quite a lot yesterday and for the month so far, two-year sterling swap rates are off around 30bp, ING’s FX strategist Chris Turner notes.
EUR/GBP to correct to the 0.8485/8500 area
“It is unclear whether this is a function of the soft UK GDP data yesterday or more just a conviction that rates will be taken lower around the world and that the UK should be no exception – despite radio silence from the Bank of England.”
“If we are right with our call for a back-up in euro rates today, EUR/GBP could correct to the 0.8485/8500 area.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December.
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
Litecoin (LTC) price is showing renewed bullish strength after breaking out of an ascending channel pattern, trading above $133 at the time of writing on Wednesday.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Silver price (XAG/USD) gains ground after recovering losses registered in the previous session, trading around $48.40 per troy ounce during the Asian hours on Friday.
Related Instrument
