Rabobank Pound-to-Euro Forecast: Budget Fears, 6-Month GBP/EUR at 1.1365

  • The Pound to Euro (GBP/EUR) exchange rate found support close to 1.1500 at the middle of July, but has not been able to break back above the 1.1630 area and consolidated around 1.1550. Rabobank expects a renewed retreat to 1.1500 on a 3-month view and has lowered the 6-month forecast to 1.1365 amid on-going growth and budget.