ING analyst Chris Turner said sterling's recent gains versus the euro could
extend as markets price a possible Bank of England rate rise at the next
meeting. He said much of the move reflects concern over French sovereign debt,
but a November BoE hike would begin to underpin sterling. With Bank of England
governor Bailey and deputy Lombardelli due to speak Thursday evening, Turner
warned any signal they are prepared to "cross this red line" and vote for a hike
could push EUR/GBP lower today.
