EUR/GBP set to trade towards 0.8550 – Credit Suisse EURGBP BOE Banks
With spot now through our original, long-held EUR/GBP target at 0.8700, we now look for the pair to trade towards 0.8550.
Sonia futures already price GBP as being a stand-out G10 high yielder by December at a terminal rate around 5.50%, a rate reached by the BoE hiking by 25 bps at each of the next 4 meetings.
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