- Analytics
- News and Tools
- Market News
- Sterling is likely to remain under downside pressure – Commerzbank
Sterling is likely to remain under downside pressure – Commerzbank
The Bank of England (BoE) hiked by 50 bps for a second consecutive meeting, taking Bank Rate up to 2.25%. There is hope on the market that a larger rate step has merely been postponed but economists at Commerzbank remain sceptical. Therefore, sterling’s weakness is set to linger.
Sterling’s recent recovery to be only a short breather
“I would remain cautious as a sterling investor as market hopes that the BoE will act more decisively in the future might be disappointed once again. Moreover, the fiscal policy measures (more on this when the mini-budget is presented today) mean that government debt is rising – a further negative factor for sterling.”
“Sterling’s recent recovery is likely to be only a short breather, as the currency is likely to remain under downside pressure.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
