Potential Increase in BOE Rate Rise Bets May Support Sterling
1123 GMT - Sterling may rise as markets could raise expectations for further increases in interest rates from the Bank of England, UBS Global Wealth Management says. The U.K. stands out among developed market economies with the highest wage growth and sharpest improvement in fundamentals since January, UBS analysts say in a note. Markets are pricing in 70 basis points of cumulative rate rises by the BOE through September and that could grow, they say. "It implies EUR/GBP above 89 cents should be a fade, and cable [GBP/USD] can probably outperform our year-end forecast of 1.35." GBP/USD falls 0.1% to 1.2485 and EUR/GBP rises 0.1% to 0.8791. (renae.dyer@wsj.com)
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Made Tech Shares Fall as FY 2023 Performance Seen Below Market Views
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National World Buys Two UK Media Companies
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Fox Marble Holdings to Consolidate Shares, Secures $125.1 Mln Orderbook
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05-02-23 0844ET
