EUR/GBP to stay below 0.8800 – ING

EUR/GBP is likely to stay below the 0.8800 level today following the largely constructive comments from Brexit secretary Davis over the weekend, according to analysts at ING.

Key Quotes

“There were largely constructive comments from Brexit secretary Davis over the weekend with respect to the EU-UK deal on the terms of Brexit as well as downplaying the leadership challenge to PM May, seeing any leadership contest as “catastrophic” during Brexit talks. Both should modestly support GBP today to the extent to which they downplay imminent prospects of domestic political and external Brexit negotiations risks.”