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HSBC Global Research says GBP/USD looks expensive against interest rate differentials as markets increasingly expect a more dovish Bank of England. Sterling has been under pressure since the BoE's 5-4 vote in February to hold policy, and markets were pricing about an 80% chance of a 25bp cut at the March meeting.
The analysis reinforces expectations of a weaker pound against the dollar, a macro currency move that has only an indirect effect on feed commodity prices.
vtmarkets.comFeb 26, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
