The British pound just had its worst month for a year — and strategists expect a further fall
Publishing timestamp: 2023-10-03 01:12:45
Summary
The British pound had its worst month against the U.S. dollar in a year and its worst against the euro since December 2022. Strategists predict further declines for the pound due to expectations of lower interest rates and a weak economic outlook. The Bank of England's decision to pause rate hikes and the potential for a recession in the UK contribute to the negative sentiment.
Sentiment: NEGATIVE
Tickers: GBP=,
Keywords: markets, currency markets, gbp/usd, breaking news: markets, business news,
Source: https://www.cnbc.com/2023/10/03/sterling-had-its-worst-month-for-a-year-and-it-may-fall-further.html