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- ANZ: Too Early To Call A Sustainable Turn In GBP - efxnews
ANZ: Too Early To Call A Sustainable Turn In GBP - efxnews
"Sterling has stabilised in recent weeks in part supported by speculation of a bi-lateral trade agreement with the US...However, outside of the potential for 'squeezes' in the market, the backdrop to the pound remains highly uncertain. PM May will trigger Article 50 before the end of March and the tone of the negotiations will be important in assessing sterling's near term path. Meanwhile, whilst growth has impressed (Q4 GDP rose 0.6% q/q) and monetary policy is very supportive, there is a reasonable prospect that growth may slow from here. Hiring trends in the economy have slowed, real income growth will be eroded by rising inflation and investment may suffer. Whilst sterling has discounted a lot, it is still too early to call a sustainable turn".
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