Ft
Sterling could strengthen against the euro if UK rates remain high for longer
Sterling could strengthen against the euro if UK rates remain high for longer
Updated October 13, 2023 at 6:14 a.m. ET
10:04 GMT – Sterling could appreciate against the euro if Bank of England interest rates remain high for longer, as markets widely expect, Bank of American analysts say in a note. “We forecast EUR/GBP at 0.85 over our forecast horizon,” they say. However, in the short term, the BoE’s actions may not provide much support to the pound, says BofA. EUR/GBP fell 0.1% to 0.8635 and GBP/USD rose 0.1% to 1.2190. (miriam.mukuru@wsj.com)
Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Wj