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EUR/GBP to move towards 0.88 by late-2021 - Rabobank

FXStreet reports that analysts at Rabobank suggest that the EUR/GBP pair is set to move toward 0.88 at the end of the year as the UK’s rapid vaccine roll-out can lessen the British economic damage caused by covid restrictions. 

“It is not our central view that the BoE will announce a negative Bank rate. Aside from the arguments debating the pros and cons, given the clear resistance of various members it may now reek of a last-ditch measure – a situation which the BoE would probably want to avoid. This, however, doesn’t mean that the debate will cease.”

“This week the EU and UK are starting talks to secure a memorandum of understanding on regulation for financial services. This is expected by March, though newswires are reporting that the EU is in no rush to grant the UK equivalence as it tries to secure more business for itself. These talks suggest that echoes of Brexit will remain an influence for the pound in the coming months.” 

“While economic uncertainty and speculation over policy are likely to leave GBP vulnerable in the coming months, assuming a bounce in the UK economic outlook we see scope for a move towards EUR/GBP 0.88 towards the latter part of the year.”

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Silver to recover towards the 27.97 recent high - Commerzbank
FXStreet notes that silver maintains a bullish bias as XAG/USD has based at the 24.20 Fibonacci support and strategists at Commerzbank look for it to re-try the topside.“Silver has sold off and recovered from support at 24.20 last week (61.8% retracement). We suspect that the market has seen an interim base here and should once again recover. This together with the December lows at 23.56 guard the 200-day ma at 22.49.” “Recovery off the 24.20/23.56 band should see the market re-try the
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