The Pound Sterling faces selling pressure against its major currency peers during the European trading session on Monday after dovish comments on interest rates from Bank of England’s (BoE) Monetary Policy Committee (MPC) member Alan Taylor in a fireside chat at Deutsche Bank in London. Read more…
OCBC’s Sim Moh Siong argues that sticky UK inflation and firmer activity data have limited dovish repricing of the Bank of England and cushioned the Pound. However, the 26 February by-election is seen keeping GBP volatility elevated in the near term. Siong still expects EUR/GBP to drift lower once political uncertainty fades. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-political-risk-tempers-data-driven-support-202602231548
