Speculation undermines Sterling |
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Sterling remained under pressure on Tuesday, weakening to test support below the 1.48 level against the dollar while it also weakened to 0.8550 against the Euro. In comments on Tuesday, former MPC member Buiter stated that the Bank of England could cut interest rates by 1.50% to 1.50% at this month’s policy meeting. Markets will certainly be expecting an aggressive cut in rates to help support the economy. There will, however, be calls for a more guarded approach, especially as Sterling has
Filed under: Fundamental
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