EUR/GBP can stay offered in a 0.8500-0.8550 range – ING

The Bank of England's trade-weighted Sterling index continues to trade near the highs of the year. Economists at ING analyze GBP outlook.

Holding onto gains, short term

It may well be that this Sterling strength endures to the next set of releases on UK wages and CPI (September 12th and 20th respectively), with more mileage to be had against the Euro than the Dollar given headwinds to the external investment environment.

EUR/GBP can stay offered in a 0.8500-0.8550 range, while GBP/USD remains trapped well inside last week's narrow range of 1.2615-1.2785.