Nomura look for further GBP gains after BoE left Bank rate unchanged

September 23, 2024
-FCHFX

September 22, 2024 at 11:34PM
Ladt week the Bank of England left rates unchanged:

ForexLive European FX news wrap: BOE hold rates

Nomura says GBP could rise even further now:

“There appears to be little appetite on the Monetary Policy Committee to rush into rate cuts,”

rate-cut expectations appear excessive and are likely to be unwound

this should benefit sterling

GBP should also catch a tailwind from

improving global risk appetite

many other central banks being likely to cut rates faster than the BOE

Daily candles:

I stuck in a horizontal line on a ‘resistance becoming support’ basis. I am certain traders out there could do better t/a than me here – comments welcome!

This article was written by Eamonn Sheridan at www.forexlive.com.

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