U.K. Political Risks, Excessive BOE Rate-Rise Bets Leave Sterling Vulnerable -- Market Talk

Dow Jones04-22 16:58

0858 GMT - Sterling has limited potential to rise against the euro after reaching a one-week high earlier on improved risk sentiment following President Trump's announcement to extend the cease-fire with Iran, ING's Francesco Pesole says in a note. U.K. Prime Minister Keir Starmer is at risk of losing his position after the May 7 local election where his Labour Party is expected to perform poorly, he says. Moreover, expectations for Bank of England interest-rate rises look excessive, with rates likely to be left unchanged until year-end as second-round inflation effects of higher energy prices aren't evident yet, he says, noting Wednesday's inflation data. The euro trades flat at 0.8690 pounds after falling to a low of 0.8685 earlier. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

April 22, 2026 04:58 ET (08:58 GMT)

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