The Bank of England hiked Bank Rate today by 25 bps which triggered a fairly muted GBP response. TD Securities' bearish medium-term USD view should support GBP regardless of the BoE outlook.
GBP on a lower tier relative to EUR and JPY
“While we expect another hike in May, we don't think it will provide too much upside impetus to GBP.”
“A deeper correction in the USD should support GBP but we still think it underperforms on key crosses.”
“EUR has more upside on the links to China reopening and has seen a nice shift in the current account dynamics linked to the terms of trade reversal. EUR/GBP trades near the midpoint of the 60d range, so we would look to buy dips below 0.88.”
“Rate compression and a likely BoJ shift should boost the JPY, favoring relative outperformance versus GBP.”
“Regarding GBP/USD, we think the Fed reinforces our medium-term bearish USD outlook, increasing downside risks to our current USD forecasts. That would support GBP, but that theme favors others just a bit more.”
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.