Sterling Could Extend Losses Slightly on Risk Aversion
0729 GMT - The pound may continue its recent selloff on potential risk aversion on Friday, although any declines will be limited, ING says. Sterling has remained "highly sensitive" to swings in risk appetite and has struggled to benefit from the market expecting more interest rate rises by the Bank of England, ING forex strategist Francesco Pesole says. "Another risk-off day today could see EUR/GBP tick higher again, although we expect any fresh rally in the pair to struggle to break the 0.8644 200-day moving average for now considering there is no clear EUR-specific bullish sentiment at the moment and the pound appears to have already widely discounted the unsupportive risk environment." EUR/GBP rises 0.3% to 0.8622 and GBP/USD falls 0.3% to 1.3441. (email@example.com)
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