FX Moment: Fiscal Strain Leaves No Way Out of Sterling Bear Trap
The UK fiscal predicament will likely keep sterling under pressure heading into the Nov. 26 budget. The view is starting to look crowded, and recent moves appear stretched, but any...
By Inigo Imaz Blanco · Bloomberg
The UK fiscal predicament will likely keep sterling under pressure heading into the Nov. 26 budget. The view is starting to look crowded, and recent moves appear stretched, but any upside is set to be contained until the fiscal path clears. For now, sterling bulls might have to settle for some consolidation ahead of the budget and/or renewed dollar weakness, which isn’t in sight yet. In this episode of FX Moment, Bloomberg Intelligence Chief G10 FX Strategist Audrey Childe-Freeman and Laura Coop