Sterling Likely to Recover Later in Year on BOE Caution -- Market Talk

Dow Jones17:23

0923 GMT - Sterling could remain under pressure in the near-term on concerns about higher U.K. borrowing costs but is likely to recover later in the year, UBS Global Wealth Management analysts say in a note. "A likely more cautious rate-cutting stance from the Bank of England versus its peers--as well as an eventual softening of the dollar's overvaluation--still supports a sterling revival to $1.34 by year-end," they say. With volatility and a weaker sterling set to persist in the near-term, investors could find value in structured strategies that generate income or gradually accumulate sterling until fiscal policy uncertainty eases and investor confidence rebounds. Sterling falls 0.1% to $1.2291. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

January 10, 2025 04:23 ET (09:23 GMT)

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With volatility and a weaker sterling set to persist in the near-term, investors could find value in structured strategies that generate income or gradually accumulate sterling until fiscal policy uncertainty eases and investor confidence rebounds. Sterling falls 0.1% to $1.2291. 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