Sterling helped by the constructive risk environment at the start of 2023 – ING
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Sterling has been performing slightly better. Without any doubt, the better risk environment is helping the GBP, economists at ING report.
“The UK has quite a large country weight in global equity and debt benchmarks, meaning that flows into these products can provide some support.”
“Market pricing of a further 100 bps BoE hike to the 4.50% area this summer looks resolute.”
“0.8770-0.8870 may well contain EUR/GBP for the rest of this week, though GBP/USD could have some more upside should US data allow.”
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