EUR/GBP expected to drop below 0.70 in 6 months – Danske Bank

FXStreet (Mumbai) - Jens Pedersen, senior analyst at Danske Bank believes that the euro will depreciate below the £0.70 mark against sterling in the mid-term, noting the likelihood of a November BoE rate hike.

Key Quotes:

"We expect Bank of England to hike in November this year, which is significantly earlier than markets currently price,"

"Consequently, we expect relative rates to be an important factor in pulling EUR/GBP down towards our 6-month target of £0.69."