Will the Pound continue to rise against the euro and where will it end the year? According to a new analysis, Pound Sterling will continue to rise against the Euro "for the time being".
Currency strategists at JP Morgan have initiated a 'short' EUR/GBP position, citing valuations and expectations that this week's Eurozone PMI figures disappoint.
The Pound rose against all major currencies this week as it drew a line under prior losses but BofA Global Research says it can still rise further against the Dollar, Euro, Japanese Yen and Swiss Franc up ahead.
Pound Sterling climbed against all major currencies except an outperforming Australian Dollar on Thursday after official data cast the UK economy in a resilient light for the second quarter.
- Pound Sterling Struggles After Inflation Rises Less than Expected
- Pound Sterling Outperforms After Unemployment Slips, Wage Growth Surprises
- "Hawkish" Cut Means Pound Sterling Will Refind Winning Ways Against Euro and Dollar
- Bank of England Rate Cut Puts Pound Sterling Under Pressure vs. Euro and Dollar