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EUR/GBP upside capped?
While there is some concern over a possible postponement of the UK’s scheduled June 21 full reopening day, the market doesn’t appear to be that fussed with sterling pretty flat versus the euro today. Politicians are giving themselves as much time as possible to make a decision whereas economists reckon the economic impact won’t be significant if it is delayed a few weeks. More important going forward may be central bank divergence with the BoE happy to see the UK recovery picking up, with the first interest rate rise possibly as early as the second half of next year. In contrast, the ECB is widely expected to ... (full story)
