# GBP/USD: "Underperformance is Certainly the Near-term Risk" Says ING

> ING says the Bank of England is turning dovish because UK disinflation is continuing, and investors now expect two UK rate cuts this year starting in August. The pound has fallen about 2.25% against the dollar in April, and analysts expect more weakness.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30990-gbp-usd-underperformance-is-certainly-the-near-term-risk-says-ing
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Widening rate-cut expectations between the BoE and the Fed weaken sterling against the dollar. The effect on feed prices is limited.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/usd/20174-pound-to-dollar-underperformance-is-certainly-the-near-term-risk-says-ing

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.