Pound Sterling Will Find Support in Bank of England Caution
The British pound is being battered from all angles on Thursday, but the Bank of England's decision won't be adding to the pressure.
The British pound is being battered from all angles on Thursday, but the Bank of England's decision won't be adding to the pressure.
"Burnhamโs clear preference for an expansionary fiscal stance, higher taxation and larger gilt issuance present a downside risk to markets"
More →Official daily exchange rates from 1971 to today: Bank of England, ECB and interbank sources.
Bank of England trade-weighted sterling effective exchange rate index (Jan 2005 = 100)
A reading above 100 means the currency is expensive relative to its long-run historical average. Below 100 means it is undervalued.
The British pound fell against the dollar and euro into the Thursday session, pushed back by central bank headwinds.
Inflation Undershoot Undermines Sterling Burnham's Win is in the Price of a Pound, His Policies Are Not Pound Sterling Won't be Spooked by Burnham Win on ThursdayThe British pound is being battered from all angles on Thursday, but the Bank of England's decision won't be adding to the pressure.
Pound-to-Euro Could Jump 80 Pips on Burnham Loss: Analysis Pound-to-Euro Week Ahead Forecast: Why Trump's Peace Deal is a Headwind Euro Banks on Two More ECB Cuts, It Might Not Get itPound sterling's next hurdle is PMI data for May, due mid-morning London time.
Pound Sterling's Reaction to Inflation Data Undershoot Won't Last Rising Unemployment, Cooling Wages: Bank of England Can Hold Back Hikes Pound Sterling Isn't Fooled by Q1's UK GDP SurgeDMP survey shows little sign of brewing inflationary pressures.
Pound Passes Bank of England Test Pound Sterling Hangs on Bank of England's Vote Split Pound's Rate Hike Support Dented by Bank of England InterventionNear-term risks to the dollar are tilted lower as a cautious Kevin Warsh meets hopes for further falls in oil prices.
Pound-to-Dollar Week Ahead Forecast: Peace Deal Paves Path to Higher Levels GBP/USD Forecast Update: The Selloff Has Suffered a Setback Why Pound-Dollar Rose After Strong U.S. Inflation PrintCommerzbank says it now expects the Aussie to depreciate against the U.S. dollar and the euro.
Australian Dollar Won't Be Hampered by On-Hold RBA says Strategist Pound-Australian Dollar Week Ahead Outlook: Recovery Rolls Over Australian Dollar Weakness Propels GBP/AUD To Major LevelGBP/NZD set for a pullback, but it's too soon to expect a meaningful decline.
Pound-to-New Zealand Dollar Week Ahead Forecast: Building Bullishness Pound-New Zealand Dollar Eyes Trendline at 2.30 Pound-New Zealand Dollar This Week: Downside to Fade into 2.24New analysis from Bank of America (BofA) says the euro-to-dollar should endure a damp summer as near-term risks "remain skewed to the downside."
Citi: Sell Euro-Dollar Rallies, Even if Warsh Fails the Hawks Euro-to-Dollar Forecast for the Week Ahead: Recovery Scoped The Bull Case for Europe is Growing: BNP ParibasGBP/CAD enters the new week having delivered the breakout bulls were looking for.
Canadian Dollar Undervalued: Scotiabank Pound-to-Canadian Dollar Week Ahead Forecast: BoC to Helps Hold the Line GBP/CAD Fails at Major Barrier Following Impressive Canadian Jobs ReportResearch from HSBC shows why the war in the Middle East has proven to be a significant headwind to the Swiss Franc.
Pound-Franc On Course to Slide Below Parity: J. Safra Sarasin Swiss Franc Tipped to Make a Comeback by UBS Swiss Franc Weakness Now SNB Policy