Sterling is expected to fall as a dovish repricing throughout the GBP curve after the Bank of England's rate announcement Says ING.

The pound is likely to stabilize before the commencement of the Bank of England (BoE) meeting on Thursday. ING economists expect the GBP

May 03, 2022 - 02:59 PM 309 views

Sterling is expected to fall as a dovish repricing throughout the GBP curve after the Bank of England's rate announce

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© Sterling is expected to fall as a dovish repricing throughout the GBP curve after the Bank of England's rate announce

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The pound is likely to stabilize before the commencement of the Bank of England (BoE) meeting on Thursday. ING economists expect the GBP (Great Britain Pound) values to be alleviated after the rate announcement, especially against the US dollar.

Except for two days of "wait and see" in GBP trades, investors appeared to be tense ahead of the Bank of England (BoE) meeting on Thursday.

After the rate announcement, they believed that it could lead to a more dovish repricing across the GBP values, and the values of the pound would probably loosen its strength.  This currency weakness has proved to be strength against the US dollar that could find more strength from the FOMC meeting. Currently, the EUR/GBP currency pair is capped and trades between 0.8450 and 0.8500.

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