1320 GMT - Sterling could fare better than the euro in the near term, TD Securities currency strategist Howard Du says. "The market is pricing more aggressive rate hikes for European Central Bank than Bank of England on the curves, so there is more room for ECB rate hike pricing to pare back." The U.K. economy has also stayed relatively more resilient since the Iran war compared to the eurozone, he says. Meanwhile, U.K. political risks have had little impact on sterling and that should remain the case after local elections on May 7, he says. The euro rises 0.1% to 0.8636 pounds and TD expects it to trade in a range of 0.8600 to 0.8650.(renae.dyer@wsj.com)
(END) Dow Jones Newswires
May 01, 2026 09:20 ET (13:20 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments