#GBPUSD @ 1.17116 – to face a challenging environment – Commerzbank

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE and login below to read further [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

In the United Kingdom, inflation is likely to be fuelled further, increasing pressure on the Bank of England (BoE). Thus, GBP/USD seems to continuously trend weaker at present, economists at Commerzbank report.

“The continued rise in gas prices entails the risk that the recession will be more pronounced and longer than previously expected. The pressure on the BoE is increasing to balance fighting the recession against high inflation rates.”

“Sterling is affected by structural issues. The effects of Brexit have not been overcome (e.g. labour shortage) and the currently ongoing leadership contest in the Tory party and the resulting uncertainties about the fiscal policy approach regarding economic challenges entails further risks.”

[/s2If]
Join Our Telegram Group