Major Risks for Sterling are Against the Euro

Major Risks for Sterling are Against the Euro


Quotes from HSBC Global Research:
-The factors that seemed to be giving sterling support earlier in the year - BoE hawkishness, fiscal control and M&A inflows - all now seem to be weakening. While this does not yet constitute an overwhelmingly bearish case for sterling, the downside risks for the currency do appear to be growing.
-We see pressures on the dollar growing as both the presidential election and the 'fiscal cliff' get nearer. This suggests the major risks for sterling are against the euro, and we would urge those exposed to the upside in EUR-GBP to consider acting before the market returns to full flow in September.


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