The market is pricing in a near 75 bps hike for next week’s Bank of England meeting. However, economists at ING do not expect the EUR/GBP pair to stage a significant move.

A break in data releases today

“In a very busy week for the UK economic calendar, we don’t get any major releases today.”

“Markets are currently pricing in 67 bps of tightening at next week’s BoE meeting, and we see a good probability of markets fully pricing in a 75 bps hike in the coming days. That could offer a bit of help to sterling into the BoE announcement, but EUR/GBP looks unlikely to make any big moves outside its recent range for now.”