Morgan Stanley comments come via efx

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  • "EUR/GBP to trade sideways from here: We expect a range-bound EUR/GBP as Europe faces a similar growth slowdown, with continued geopolitical uncertainty and elevated inflation weighing heavily on consumers disposable income," MS notes.
  • "While the ECB is due to start its hiking cycle, we think policy normalisation will be gradual as the weak growth outlook leads to a pause in hiking after the deposit rate hits0%," MS adds.

Remarks from Lagarde reported the past few sessions have given EUR a bit of a lift:

eurgbp 24 May 2022 lagarde