Sterling is facing pressure on a variety of fronts. The prospect of more monetary policy stimulus, a deep recession and political uncertainty is set to weigh on the pound. Therefore ,economists at Rabobank have revised down their already gloomy GBP forecasts. FXStreet’s analyst Yohay Elam also sees the cable suffering. Key quotes “The UK is being slower than many other countries in Europe to unwind its lockdown measures. This threatens to enlarge the toll on the economy which in turn places further pressure on policy makers, both fiscal and monetary.” “There is a real risk therefore of the UK and the EU trading on WTO terms from January. […] The prospect of confusion and queues at borders is likely to weigh on investor sentiment while the threat of tariffs on food and disruption for supply chains could further undermine consumer confidence.” “In the wake of the headwinds facing the economy perhaps it is not so surprising that various BoE officials including Governor Bailey have indicated that the case for negative interest rates in the UK is under ‘active review’. […] In addition, the market is prepared for an increased QE target from the BoE in June.” “We now target GBP/USD 1.19 in 1-month and GBP/USD 1.18 on a 3-month view. We had previously targeted GBP/USD 1.19 on a 3-month view.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USDJPY Completing A Pullback and Turning Higher – Elliott wave Gregor Horvat 3 years Sterling is facing pressure on a variety of fronts. The prospect of more monetary policy stimulus, a deep recession and political uncertainty is set to weigh on the pound. Therefore ,economists at Rabobank have revised down their already gloomy GBP forecasts. FXStreet’s analyst Yohay Elam also sees the cable suffering. Key quotes “The UK is being slower than many other countries in Europe to unwind its lockdown measures. This threatens to enlarge the toll on the economy which in turn places further pressure on policy makers, both fiscal and monetary.” “There is a real risk therefore of the UK and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
