Sterling Has Limited Scope to Fall if BOE Cutes Rates -- Market Talk

Dow Jones12-18 16:39

0839 GMT - Falls in sterling would likely be only brief if the Bank of England cuts interest rates in a decision at 1200 GMT, ING's Chris Turner says in note. A 25 basis-point rate cut is widely expected. The consensus forecast is for a 5-4 vote in favor of a cut but there's a risk of a 6-3 split. While that would be moderately sterling negative, speculative positioning remains substantially underweight the currency already, he says. The euro could spike to 0.8820-0.8840 pounds after the BOE decision but quickly fall back to 0.8750 pounds, he says. The euro is last steady at 0.8772 pounds. Sterling falls 0.1% to $1.3365. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

December 18, 2025 03:39 ET (08:39 GMT)

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The euro could spike to 0.8820-0.8840 pounds after the <a href=\"https://laohu8.com/S/00710\">BOE</a> decision but quickly fall back to 0.8750 pounds, he says. The euro is last steady at 0.8772 pounds. Sterling falls 0.1% to $1.3365. 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A 25 basis-point rate cut is widely expected. The consensus forecast is for a 5-4 vote in favor of a cut but there's a risk of a 6-3 split. While that would be moderately sterling negative, speculative positioning remains substantially underweight the currency already, he says. The euro could spike to 0.8820-0.8840 pounds after the <a href=\"https://laohu8.com/S/00710\">BOE</a> decision but quickly fall back to 0.8750 pounds, he says. The euro is last steady at 0.8772 pounds. Sterling falls 0.1% to $1.3365. 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