GBP/USD to continue grinding towards 1.10 – ING
|The Bank of England (BoE) is set to hike 50 bps which will take Bank Rate up to 2.25%. Nonetheless, economists at ING expect the GBP/USD pair to extend its downfall towards 1.10.
BoE to hike 50 bps, sterling at risk
“The hawkish BoE has provided little support to sterling this summer. Instead, fiscal concern is growing in the UK and tomorrow's 'fiscal event' could prove the trigger for another round of Gilt and sterling selling.”
“GBP/USD to continue grinding towards 1.10. And a difficult equity environment could see EUR/GBP edging back to the 0.88 area.”
See – BoE Preview: Forecasts from 10 major banks, a close call between 50 bps and 75 bps
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.