Today’s Notable Sentiment Shifts
GBP – Sterling rose to 20-month highs against the euro on Tuesday, driven by diverging interest rate expectations for Britain and the Eurozone, especially after data showed UK full-time earnings rising by the most since 2008.
However, MUFG warns its investor that “there is an element of caution in chasing the pound higher on the back of higher rates. The combination of slower growth and higher inflation is not a good mix for a currency.”
However, MUFG warns its investor that “there is an element of caution in chasing the pound higher on the back of higher rates. The combination of slower growth and higher inflation is not a good mix for a currency.”
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