Stronger EUR/USD could carry GBP/USD back to the 1.2570/2600 area – ING

ING economists and the robust eurozone Consumer Price Index (CPI) data quote that the cable has grown rapidly and now it has acclaimed the 1.25 level.

April 29, 2022 - 05:13 PM 319 views

Stronger EUR/USD could carry GBP/USD back to the 1.2570/2600 area – ING

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© Stronger EUR/USD could carry GBP/USD back to the 1.2570/2600 area – ING

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ING economists and the robust eurozone Consumer Price Index (CPI) data quote that the cable has grown rapidly and now it has acclaimed the 1.25 level.

Currently, the yield curve and the equity markets are the biggest drivers for sterling, whereas short-term financial goals have gone out of fashion. In other words, the pound is currently trading on the prospect of future growth.

Hopefully, the European Forex market (FX) will get a tiny boost today if eurozone CPI surprises to the upside and ECB hawks come out in force. This might push EUR/GBP back to 0.8450/60, but a higher EUR/USD could push GBP/USD back to 1.2570/2600 on the same day.

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