EUR: Mildly bullish in a quiet week; GBP matches Tory wobble in the polls - ING
|Analysts at ING expect to see some good hard and soft German/EZ data this week; IFO data may stay near cycle highs (Tue) while Chris Turner notes that the EUR could continue its mildly bullish bias, with a range of 1.1070-1.1280.
Key Quotes
“In the UK, the first polls since last week’s release of party manifestos has seen a narrowing of the Tory lead over Labour (to around 9-13 points); GBP’s defensive reaction to this – as well as remarks by Brexit Secretary David Davis that the UK will “walk away” from any trade deal – suggests limited upside potential ahead of the General Elections. Look for EUR/GBP to move up towards the 0.8700 level.”
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