• Sterling to underperform amid global growth fears – MUFG

Market news

7 July 2022

Sterling to underperform amid global growth fears – MUFG

The pound has not been significantly impacted so far by the heightened state of political uncertainty in the UK. Instead, economists at MUFG Bank expect GBP to move downward due to recession woes.

Heightened political uncertainty unlikely to be the main driver 

“The heightened political uncertainty will continue to hang over pound performance in the near-term but is unlikely to be the main driver.”

“The pound should continue to underperform while global growth fears are mainly driving price action in the FX market.”  

See – British pound: Forecasts from seven major banks, downside risks to persist

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.