Sterling falls vs euro on QE risk; UK GDP awaited | Reuters: "Sterling fell to its lowest in nearly seven months against the euro on Monday, weighed down by the possibility the Bank of England may loosen monetary policy and that GDP data on Tuesday could point to a stuttering UK recovery.
The pound rose against a broadly weaker dollar as a Group of 20 agreement to shun competitive currency devaluations was viewed as a green light to resume dollar-selling on expectations the Federal Reserve will ease monetary policy next week.
But the prospect that the BoE may follow in the Fed's footsteps by opting for a fresh bout of quantitative easing (QE) left sterling underperforming currencies other than the dollar, pushing it to a five-month low versus a currency basket."
You Might Also Like :
0 comments:
Post a Comment