# Pound Sterling Put On a "Firmer Footing" vs. Euro & Dollar Says Goldman Sachs in post-Bank of England Assessment

> Goldman Sachs strategist Michael Cahill said sterling should remain supported after the Bank of England's 50 basis point hike of June 22. He argued the hike steadied UK bond and currency markets and showed the BoE taking a more proactive stance. The article notes the decision helped contain the rise in short-term UK bond yields.

- Date: 2023-06-26 · published 2023-06-26T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/35766-pound-sterling-put-on-a-firmer-footing-vs-euro-and-dollar-says-goldman-sachs-in
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A firmer pound lowers the cost of dollar-priced commodities for UK and euro-area buyers, while steadier UK bonds reduce financing pressure. The effect on feed markets is small.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/gbp-live-today/18905-pound-sterling-put-on-a-firmer-footing-vs-euro-dollar-says-goldman-sachs-in-post-bank-of-england-assessment

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