Market news
23.07.2021, 14:38

Plateau in UK COVID infections possible by late August; limited appetite for buying GBP in near term - MUFG

eFXdata reports that analysts at MUFG Research see limited scope for further gains in GBP in the near-term perspective.

"The consensus amongst epidemiologists seems to be that a possible plateau in infections will be reached later in August. Hence, the evidence that the herd immunity strategy is working may not be available imminently. That could mean limited appetite for buying GBP over the short-term. The escalation of the UK-EU conflict over the Northern Ireland protocol is another reason to be cautious on the near-term outlook for GBP."

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