EUR/GBP likely to struggle finding much direction in the near term – ING

EUR/GBP moved back below the 0.8600 level after the ECB dovish hike. Economists at ING analyze the pair’s outlook.

EUR/GBP may stay under some mild pressure into the BoE

EUR/GBP may stay under some mild pressure into the BoE but looks more likely to struggle finding much direction in the near term.

Both investors and policymakers will still get the chance to look at a CPI print (on Wednesday) before the BoE announcement (on Thursday), which has a good chance of tilting market pricing.