EUR/GBP rebounds back above 0.8350 after printing fresh multi-year lows By Frank_Macro EURGBP BOE ECB
ast week at 0.8333, EUR/GBP has since rebounded back to the north of the 0.8350 level. As things stand, the pair is now back to trading flat on the day in the 0.8350s, with the bears likely to eye any retest of last week’s highs in the 0.8370 area as an opportunity to reload on short positions.
But sterling’s recent strength against the euro also likely reflects growing expectations of central bank divergence between the ECB and. The UK government’s decision not to lockdown has kept the prospect of a second post-pandemic BoE rate hike in February alive. By contrast, the main debate at the ECB is currently about the appropriateness of its inflation forecast.
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