November 22, 2024 – Written by David Woodsmith
STORY LINK Pound to Euro Back Above 1.2000, Analyst Target 1.2050+
The stronger than expected UK inflation data strengthened the Pound on Wednesday with the Pound to Euro (GBP/EUR) exchange rate edging back above the 1.2000 level from 1.1980 as markets priced out the already small possibility of a December Bank of England rate cut.
Markets still expect significant rate cuts next year.
According to ING on EUR/GBP; “For the short term, we stick with our call that the pair will move back below…
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