0857 GMT - Sterling could extend recent gains against the euro as the single currency continues to face significant domestic headwinds, ING's Francesco Pesole says in a note. While market expectations for the Bank of England to raise interest rates appear excessive, translating that into a weaker sterling versus the euro remains challenging, he says. French debt concerns are weighing on the euro while elevated oil prices support expectations for U.K. interest rate rises, he says. The euro rises 0.1% to 0.8490 pounds after reaching an 11-week low of 0.8456 Monday, according to LSEG. ING expects it to fall as low as 0.8400.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.