EUR/GBP every day
MUFG is out with its commerce of the week and highlights EUR/GBP, which is buying and selling at 0.8650 in the mean time.
“We’re recommending a protracted EUR/GBP commerce concept to replicate our view that draw back dangers for the GBP are rising. Now we have been inspired by worth motion over the previous week. EUR/GBP has held above the 0.8600-level for the longest interval since late 2023/early 2024,” MUFG notes.
“The GBP sell-off was initially triggered by issues final week over the UK public funds. The looming prospect of tax hikes within the autumn may discourage companies and households from spending within the interim contributing to weak progress persevering with in Q3,” MUFG provides.
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