EUR/GBP to stabilise ahead of key data – ING

EUR/GBP continued to climb steadily higher on Wednesday to settle around the 0.8550 mark. Economists at ING analyze the pair’s outlook.

Awaiting key UK data releases

Today is a quiet one in the UK. The MPC is in the quiet period ahead of next Thursday’s announcement, and the data calendar is empty. On Friday, we’ll see one of the two final data inputs ahead of the BoE’s meeting – the Bank’s Inflation Attitudes Survey. The final data piece is the February CPI figures, which are released one day before the BoE announcement.

EUR/GBP is stabilising at around 0.8550, as per our expectations. We expect it to hover around these levels ahead of key data releases in the UK.