Danske Bank lowered forecasts for euro / pound

According to analysts at Danske Bank, the euro / pound pair (EUR / GBP) is set to decline in the short and long term. The target level is 0.86 within the next 12 months. “We lowered our forecasts for the month and three months for EUR / GBP to 0.88 from 0.90 and 0.89 respectively, as the agreement on the completion of the first phase of negotiations on Brexit somewhat softened the concerns of investors.
We still expect that the cross will remain relatively volatile in the range of 0.8650-0.90 in the short term. In the longer term, the situation with the EUR / GBP decline remains unchanged, as the uncertainty of Brexit will dissipate over time. We are targeting the 0.86 level in 12 months, “analysts said.

Leave a Reply

Your email address will not be published. Required fields are marked *