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GBP remains under pressure – Westpac

FXStreet (Edinburgh) - The sterling would remain under pressure in the upcoming periods, suggested strategists at Westpac.

Key Quotes

“The Bank of England looms large on the horizon”.

“Recent comments from Martin Weale have tended to emphasise the reasons why he has not joined McCafferty including weak China, falling commodity prices in particular oil prices and the recent improvement in UK productivity”.

“It's not clear much has changed in recent weeks with the IMF downgrading global growth forecasts, so a likely 8-1 vote should do little for GBP here”.

“With EUR/GBP continuing to trade around 0.74, it looks like GBP should continue to languish in the low 1.50s”.

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