0823 GMT - Sterling could extend its losses if Bank of England official Catherine Mann argues further in favor of cutting interest rates more aggressively in a 0845 GMT speech, ING's Chris Turner says in a note. The BOE cut rates by 25 basis points Thursday but Mann was one of two policymakers who preferred a 50 basis-point cut. She told the Financial Times her vote reflected a weakening jobs market and slowing consumer demand. Further comments along those lines could firm market expectations for three further 25 basis-point cuts this year, Turner says. Sterling is more vulnerable against the dollar as the euro faces potential U.S. tariffs, he says. Sterling falls 0.2% to $1.2345 and could drop to $1.2250 near term, ING says (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 03:23 ET (08:23 GMT)
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