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- EUR/GBP to move lower to 0.86 when a Brexit deal is in sight – Danske Bank
EUR/GBP to move lower to 0.86 when a Brexit deal is in sight – Danske Bank
FXStreet reports that according to analysts from Danske Bank, EUR/GBP will likely trade within 0.90-0.92 until a Brexit deal is agreed.
“In line with our expectations, there has not been any major breakthrough ahead of the EU summit on 15-16 October. Our base case remains a deal but we expect negotiations to extend into November. The main obstacles are still fishing and level playing field conditions (e.g. state aid and taxes).”
“We expect EUR/GBP to trade within 0.90-0.92 until we get clarification on Brexit. Our base case remains a simple free trade agreement covering goods and we expect the cross to move lower to around 0.86 when a deal is in sight. We have lowered our three-month forecast to 0.86 (previously 0.88), as we expect a deal some time in November. We keep our six-to-twelve month forecast at 0.86.”
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