Pound Sterling has fallen heavily against all major counterparts over the recent week but traders should buy into the resulting dip against the Euro and safe-haven Swiss Franc, according to Barclays strategists.
The Pound to Euro exchange rate has unraveled all of its second quarter gains but Goldman Sachs says the trend is still higher and that Bank of England interest rate policy can only weigh on the pair for so long.
The Pound to Euro exchange rate has fallen heavily in recent trade but the author’s model suggests it’s now bottoming out in what is likely to be a narrow 1.1650 to 1.1731 range over the coming days.
Pound Sterling has erased its July gains against a resurgent Euro, and there is only one question to be asked in the coming week: where will the selling end?
- Market Dump Heaps Pressure on Pound to Euro Exchange Rate
- Pound to Euro Rate Selloff Extends on Eurozone Inflation Surprise
- Stubborn German & Spanish Inflation Underpins Euro, Casts Doubt on Sept. ECB Rate Cut
- "Huge" Interest Rate Cuts and Austerity to Send Pound Sterling Lower Against Euro and Dollar