1433 GMT - The Bank of England's policy decision on March 20 is unlikely to be a big driver of sterling, TD Securities strategists say in a note. A decision to keep interest rates unchanged is priced in and markets expect rate cuts to resume in May, they say. Sterling has been driven more by global macroeconomic factors rather than idiosyncratic events, they say. Germany's fiscal spending plans have led sterling lower versus the euro while U.S. recession concerns have boosted sterling against the dollar. However, short-seller bets against the dollar seem overdone while the German fiscal spending is a long-term investment that will be spread over many years, they say. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
March 14, 2025 10:33 ET (14:33 GMT)
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