EUR/GBP: Limited downside after inflation data – ING
Par FXStreet Insights Team
Mis à jour: 22 Apr 2026
ARTICLES POPULAIRES
ING strategist Francesco Pesole argues that EUR/GBP has limited further downside after slipping below 0.8700, as United Kingdom (UK) political risks and stretched Bank of England (BoE) tightening expectations offset risk-on pressures.
ING strategist Francesco Pesole argues that EUR/GBP has limited further downside after slipping below 0.8700, as United Kingdom (UK) political risks and stretched Bank of England (BoE) tightening expectations offset risk-on pressures. He notes that recent UK inflation data do not alter the outlook, with the BoE still expected to stay on hold through year-end.
Political risk and rates cap Pound gains
"We think EUR/GBP has limited downside potential after breaking below 0.870 over the past 24 hours."
"Risk‑on episodes tend to weigh on EUR/GBP, but rate differentials usually emerge as the more durable driver."
"In that context, the 41bp of tightening priced into the GBP curve looks stretched in our view relative to the 54bp of expected ECB tightening."
"That should be enough to keep the BoE on hold next week and, in our view, until year‑end."
"On our base case, inflation peaks briefly around 4% and oscillates between 3.5‑4% in 2H, though current gas pricing points to a peak closer to 3.5% – still not enough to force a hike."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Plus d’un million d’utilisateurs se tournent vers FXStreet pour des données de marché en temps réel, des outils de graphiques, des analyses d’experts et des actualités Forex. Leur calendrier économique complet et leurs webinaires éducatifs aident les traders à rester informés et à prendre des décisions éclairées. FXStreet s’appuie sur une équipe d’environ 60 professionnels répartis entre le siège de Barcelone et diverses régions du monde.
Lire la suite
