GBP: Not that strong in the crosses – ING
Source Fxstreet
GBP/USD broke the key 1.300 resistance yesterday on the back of USD weakness, ING's FX analyst Francesco Pesole notes.
EUR/GBP remains close to its January 2025 high of 0.846
"In the crosses, the GBP is not showing particular strength, and EUR/GBP remains close to its January 2025 high of 0.846."
"We don’t expect tomorrow’s Bank of England meeting to be a major event for sterling. As discussed here, we expect a consensus hold with only two members voting for a cut."
"The UK budget event later this month is the biggest risk event for the pound. GBP negative scenarios are predominant as Chancellor Rachel Reeves may either slash spending, raise taxes or risk unnerving the gilt market. We see upside risks to 0.85 in EUR/GBP near term."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the Asian session on August 26, WTI crude oil (USOIL) prices extended yesterday's decline, dropping to an intraday low of $80.26 and approaching the $80 threshold at one point, down
Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.
The U.S. will release the U.S. July Personal Consumption Expenditures (PCE) Price Index on Wednesday, August 26, Eastern Time. As a key inflation indicator closely watched by the Federal
Ethereum (ETH) treasury company BitMine Immersion Technologies (BMNR) expanded its digital asset holdings last week with another round of acquisitions.
On August 24, Bitcoin (BTC) prices continued to fluctuate lower, edging up just 0.1% on the day to trade at $77,176. Last Friday (August 21), Bitcoin prices surged toward the $80,000 mark
Related Instrument
