- Unanimous expectation seems to be that the ECB will leave rates unchanged and it will not engage in any additional non-standard policies
- The BOE is also expected to leave rates unchanged. The subsequent statement is expected to include some clues of additional QE in February
If the meetings pan out like this, then we may see further short-covering in EUR/GBP, which could easily bounce back towards .8500 without endangering the recent downtrend.
