GBP – The pound slipped on Monday, touching its lowest in more than two weeks versus the dollar and euro, pressured by uncertainty over the Bank of England’s policy stance and an escalating post-Brexit spat with France over fish.
BMO Capital Markets added that “FX investors have become more concerned about the inflation backdrop in the context of hawkish shifts by numerous central banks. This has, in turn, reduced risk appetite levels and the extent of upward pressure on sterling/dollar. BoE hawkishness is unlikely to translate directly into pound appreciation versus the dollar in the current environment.”
BMO Capital Markets added that “FX investors have become more concerned about the inflation backdrop in the context of hawkish shifts by numerous central banks. This has, in turn, reduced risk appetite levels and the extent of upward pressure on sterling/dollar. BoE hawkishness is unlikely to translate directly into pound appreciation versus the dollar in the current environment.”
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.