ING: The pound may be driven by risk sentiment this week

On September 3, Jin10 Data reported that Francesco Pesole, an analyst at ING Group, said in a report that given the lack of notable economic data in the UK, global risk sentiment may become the main driving force for the pound this week. He said that the GBP/EUR exchange rate may be waiting for a catalyst for the “next big move.” The EUR/GBP exchange rate is likely to fall below the year’s low near 0.8380 at some point, or rise from the current 0.8434 to the 0.8500 area. Over the past few months, we have generally seen more views that the EUR/GBP will eventually rebound, but we admit that the Bank of England or UK data has not provided strong reasons, and short-term risks may be relatively balanced.