GBP: Rally continues with sentiment support – Scotiabank
|The GBP is up 0.2% against the USD, continuing its rally driven by positive sentiment and stronger-than-expected economic data. The report highlights that market focus is on the upcoming BoE policy decision, with expectations for no change. Political developments pose risks for the Pound as leadership challenges loom. Shaun Osborne and Eric Theoret from Scotiabank note.
GBP strengthens amid positive sentiment
"As with EUR, the GBP’s latest rally looks to have been primarily driven by sentiment, with added support from fundamentals on the back of last Friday’s stronger than expected retail sales and PMI data."
"Political developments remain a major risk for the pound as market participants consider the ongoing threat of a leadership challenge to PM Starmer."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.