Sterling holds near recent highs on euro, dollar
LONDON, Sept 30 (Reuters) -The pound paused around multi-year highs on the dollar and the euro on Monday, supported by the Bank of England's relative hawkishness, at the start of a week where, barring dramatic surprises, its fortunes will largely depend on moves elsewhere.
Sterling was up 0.16% on the dollar at $1.3394, sitting just shy of a two-and-a-half year high hit the previous week. GBP=D3
The euro was up 0.1% on the pound at 83.54 pence, but could not break far from last week's 83.19 pence, its lowest since April 2022. EURGBP=D3
Boosting sterling has been traders' expectations that the Bank of England will be relatively cautious in cutting interest rates compared to the Federal Reserve and European Central Bank.
The BoE kept rates on hold in September, after cutting in August, and markets are only fully pricing one further 25 basis- point rate cut by year end.
In contrast, the ECB has cut rates twice this cycle, and analysts expect two more 25 bp cuts by December, while markets are pricing round 70 bps of further cuts across the Fed's remaining two meetings, after September's large 50 bp move.
"The pound’s recent strength has partly relied on the 'no news is good news' narrative, as quiet calendars allowed markets to look elsewhere for easing bets while happily keeping the Bank of England in the group of relatively hawkish outliers," said Francesco Pesole, currency strategist at ING in a note.
The pound looked through Monday data showing British economic output expanded by 0.5% in the April-to-June period, slightly weaker than a preliminary estimate for 0.6% growth, but there were positive signs from household finances and business investment.
There is little other major economic data due from Britain this week, meaning the main sterling pairs will be driven by other factors.
Euro zone inflation data, due on Tuesday, will shape euro/sterling, while this week's U.S. jobs data, particularly non farm payrolls on Friday will be the main driver of the pound against the dollar.
Graphic: World FX rates in 2023 http://tmsnrt.rs/2egbfVh
Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv
Reporting by Alun John
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
