1239 GMT - Sterling could continue its struggle to keep pace with the euro in the near-term due to Germany's fiscal spending plans and the prospect of U.K. tax rises later this year, Rabobank forex strategist Jane Foley says. The turnaround for the euro has been the impulse into the eurozone from the change to Germany's debt brake, she says. "That's the primary motivating factor." That means sterling will underperform the euro, particularly if the U.K. faces more tax hikes in autumn. If U.K. growth gets hit from a potential downturn in the global economy due to U.S. tariffs, U.K. Treasury chief Rachel Reeves won't be able to meet her fiscal targets without creating more revenue from higher taxes, she says. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
April 16, 2025 08:39 ET (12:39 GMT)
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