Weekly Fundamental British Pound Forecast: Sterling Seeking Semblance of Stability
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Fundamental Forecast for the British Pound: Neutral
As UK vaccination rates have slowed, coupled with a backdrop of calmed UK Gilt yields, the British Pound’s relative appeal that carried it through the first three months of 2021 has been tarnished.
There’s certainly an argument to be made that there will be more event-driven risk in the week ahead than what GBP-crosses have experienced thus far this month.
The IG Client Sentiment Index suggests the British Pound has a mixed bias heading through mid-April.
Sterling Has Struggled as Vaccinations Slow, UK Gilt Yields Steady