EUR/GBP: The rise will be slow – SocGen

Kit Juckes, Chief Global FX Strategist at Société Générale, expects the EUR/GBP to move gradually higher.

BoE’s MPC to cut rates by 1% more than the ECB

We expect the BoE’s MPC to cut rates by 1% more than the ECB, whereas the market prices the gap between the two to remain constant. 

GBP will weaken, though everyone is so bearish already that the rise in EUR/GBP will be slow.

See: It is not certain EUR/GBP has to trade up to 0.8800 just yet – ING