Sterling Could Rise if BOE Stays Cautious -- Market Talk

Dow Jones11-20

1140 GMT - Sterling could strengthen against the euro next year as the Bank of England is likely to cut interest rates more gradually compared to the European Central Bank, Commerzbank's Michael Pfister says in a note. U.K. underlying inflation pressures and economic growth look set to outpace those of the eurozone, the analyst says. U.S. President-elect Trump's plans for trade tariffs are also likely to have a lesser impact on the U.K. than on the eurozone. Commerzbank expects EUR/GBP to fall to 0.81 by December 2025, from 0.8333 currently. However, it expects sterling to stay flat against the dollar next year as the dollar benefits from better growth and the potentially inflationary impact of Trump's trade policies.(renae.dyer@wsj.com)

(END) Dow Jones Newswires

November 20, 2024 06:40 ET (11:40 GMT)

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