Pound bears are back

07.11.2017 / 09:20

Rating:

Even though the Bank of England delivered its widely expected interest-rate increase last week, it hasn’t done enough to keep investors optimistic on the pound. Bloomberg’s Fear-Greed indicator, a gauge of momentum and market sentiment, has dropped below zero after the BOE raised its key rate for the first time in a decade without saying if it planned to tighten in the future. “Sterling is going to be noisy near-term as we have this debate over the rate outlook and I would look to sell rallies,” said Royal Bank of Canada’s head of currency strategy Adam Cole, who forecasts the pound will drop to $1.20 by year-end.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev

Varchev Traders

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Pound bears are back

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