GBP: Caution is warranted even if risk sentiment improves near-term - Credit Agricole

eFXdata reports that Credit Agricole CIB Research discusses GBP and maintains a cautious bias in the near-term.

"Given that the GBP’s recent rally relied heavily on the success of the UK vaccine rollout so far this year, any evidence that the rollout will be slowing could fuel concerns about delays of the government’s plans to reopen the economy and thus continue to hurt the currency."

"We, therefore, believe that a more cautious stance on the GBP is warranted, even if risk sentiment starts to improve in the coming weeks."