EUR/GBP to consolidate in 0.88-0.90 range - ING

In a quiet EZ calendar, current account data and the ZEW surveys may offer the EUR some direction, according to Viraj Patel, Foreign Exchange Strategist at ING.

Key Quotes

“We continue to see risks of a more sustained move above the 1.20 level on a dovish Fed and some constructive EZ data could help to fuel this. As for EUR/GBP, we’re starting to see the narrative shift back to Brexit and PM May’s speech, while Governor Carney injected a bit of realism into any BoE hiking cycle with his IMF. We now look for consolidation in the 0.88-0.90 range.”