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Mar 26 - 05:00 PM

GBP: Still 10 Big Figures Below Where It Was Trading At Start Of March; Room For Further Gains N-Term - MUFG

By eFXdata  —  Mar 26 - 04:15 PM

MUFG Research discusses GBP outlook and sees scope for further gains in the near-term.

"The pound’s rebound has been less impressive so far. Cable has risen back towards the 1.2100-level after hitting an intra-day low of 1.1412 on the 20th March, but still remains around 10 big figures below where it was trading at the start of the month," MUFG notes. 

"Financial market conditions would need to normalise further in the near-term to encourage the pound to extend its rebound," MUFG adds. 

Source:
MUFG Research/Market Commentary

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