Sterling Stabilizes Ahead of BoE Speakers

Sterling traded just over a cent above this week’s lows against the dollar and steadied against the euro on Friday, with several Bank of England policymakers due to speak and markets keen for clues on whether another cut in interest rates is likely.

The pound has found a foothold after a round of heavy losses this week, sparked by last Friday’s tumble, but some investors are still prepared to back it to recover much of that ground.

European Council President Donald Tusk, who will run the Brussels side of Britain’s negotiations on leaving the EU, warned on Thursday that the bloc will not offer London any softer terms than a “hard Brexit”.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.