Sterling likely to remain under depreciation pressure despite Brexit deal – Commerzbank GBPUSD Brexit Banks Inflation BOE
deal on Northern Ireland. Positive momentum for Sterling is likely to be short-lived, economists at Commerzbank report.“An agreement in the row about the Northern Ireland protocol has been reached between the United Kingdom and the EU. The positive momentum for Sterling is likely to remain limited though.”
“An agreement in connection with the Northern Ireland protocol is likely to have little influence on short-term inflation developments and as a result the market is likely to return its attention to data publications and comments by BoE members again pretty quickly. In this context, we remain sceptical for Sterling.”remains hesitant as far as further monetary policy tightening is concerned and signalled recently that it would soon reach the end of the rate hike cycle.
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