EUR/GBP to remain above the 0.7550 level - ING

FXStreet (Delhi) – Research Team at ING, notes that an FT article reporting that the UK benefit reform demands may be gaining appeal among some EU members (Austria, Denmark, France, Germany and the Netherlands) and the resulting increased probability of a successful deal or concessions for the UK in the February EU summit may offer some support to GBP today.

Key Quotes

“Indeed, EUR/GBP has been trading on the softer side during the Asian trading hours. The current sterling price action is not only about the Brexit associated risk premia, but also about the general risk appetite which so far has been weighing heavily on GBP. Given the ongoing pressure on risk assets, any GBP rebound is likely to be limited. EUR/GBP to remain above the 0.7550 level."