Sterling heads for biggest monthly decline in 16 years against the US Dollar.
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
It has been a tough month for the pound, at one point sterling had trading down to 1.5267 against the US Dollar. The bank of England are expected to aggressively cut rates going forward, this will add to the pressure on sterling in the coming months.
The MPC is expected to lower benchmark rates by 50bp to 4% next week.
Analysts predict a break of the 1.5259 low, could see a fairly swift move to the 1.4750 region.
Friday 31 October 2008, 12:34pm
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