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ING cut its sterling forecasts, saying the six-month Brexit extension is too short for the Bank of England to resume rate hikes. The bank expects GBP to weaken against the euro and dollar over the next six months, with Conservative leadership tensions adding to the pressure.
Lower expected rates and a weaker pound would raise the dollar cost of sterling-priced inputs and reduce UK import purchasing power.
poundsterlinglive.comJames SkinnerApr 12, 2019Not enough comparable past events yet for a historical read.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
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.
