Investing.com UK on Nostr: Pound Sterling: Looks to Challenge 4-Month Best vs US Dollar ========== The Pound to ...
Pound Sterling: Looks to Challenge 4-Month Best vs US Dollar
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The Pound to Dollar (GBP/USD) exchange rate has advanced to 1.2840 and close to 4-month highs. The left-wing alliance (NPF) won the French parliamentary election, pushing Macron's centrists into second place. UBS analyst Paul Donovan highlights the increasing importance of politics in the market. ING sees downside risks for GBP/USD due to EU political risk. The UK Labour Party will have a commanding majority in the House of Commons. MUFG expects the Pound to outperform other G10 currencies. Bank of England (BoE) policy will be a key element for the Pound. The BoE is out of its blackout period and comments will be closely watched. ADM Investor Services global economist Marc Ostwald notes expectations of a rate cut next month. There is speculation that President Biden will withdraw from the November election. The positive factors are priced into the Pound, which is currently overvalued by 1.83%.
#PoundSterling #UsDollar #Gbp/usd #FrenchParliamentaryElection #UkLabourParty #BankOfEngland #BoePolicy
https://uk.investing.com/news/forex-news/pound-sterling-looks-to-challenge-4month-best-vs-us-dollar-3580963
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The Pound to Dollar (GBP/USD) exchange rate has advanced to 1.2840 and close to 4-month highs. The left-wing alliance (NPF) won the French parliamentary election, pushing Macron's centrists into second place. UBS analyst Paul Donovan highlights the increasing importance of politics in the market. ING sees downside risks for GBP/USD due to EU political risk. The UK Labour Party will have a commanding majority in the House of Commons. MUFG expects the Pound to outperform other G10 currencies. Bank of England (BoE) policy will be a key element for the Pound. The BoE is out of its blackout period and comments will be closely watched. ADM Investor Services global economist Marc Ostwald notes expectations of a rate cut next month. There is speculation that President Biden will withdraw from the November election. The positive factors are priced into the Pound, which is currently overvalued by 1.83%.
#PoundSterling #UsDollar #Gbp/usd #FrenchParliamentaryElection #UkLabourParty #BankOfEngland #BoePolicy
https://uk.investing.com/news/forex-news/pound-sterling-looks-to-challenge-4month-best-vs-us-dollar-3580963