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Forex Flash: EUR/GBP: Support lies at the August 2 low near 0.7825 - Rabobank

By FXstreet.com,  August 13, 2012, 05:14:00 AM EDT

FXstreet.com (Barcelona) - According to Jane Foley, Senior currency strategist at Rabobank, for now the pound is likely to remain well supported vs. the EUR on the back of the concerns that Greece could cause further consternation for EU politicians over the summer and ECB action to calm the Spanish bond market may not be forthcoming for some weeks yet. During the week ahead sterling markets will be focussing on releases of domestic CPI, unemployment, retail sales as well at the July MPC minutes. "All of these data have the capacity to imply that further BoE policy action could be required before the end of the year, though as has been the case for some months sterling is likely to weather the impact of dovish data well in view of the even more bumpy road faced by the EUR," she said, "support lies at the August 2 low near EUR/GBP0.7825 ahead of the July low near EUR/GBP0.7755."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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