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- GBP: By any measure of valuation, the pound Is still cheap - ANZ
GBP: By any measure of valuation, the pound Is still cheap - ANZ
eFXdata reports that ANZ Research discusses GBP outlook.
"Despite the UK’s uncertain post-EU future, sterling is trading firmly against the dollar and holding its own on the crosses. By any measure of valuation, the pound is cheap (long run post-EMU average is 1.58 vs USD). But the transition the economy faces, amid tighter fiscal constraints, suggests sustained currency undervaluation would be optimal, from a policy perspective. Domestic inflation pressures are muted, the balance of payments deficit will widen again as the economy recovers and the BoE is examining the feasibility of negative interest rates", ANZ adds.
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