More pound pain coming as central bank shifts to recession from inflation ...Qatar

Gulf Times - News
More pound pain coming as central bank shifts to recession from inflation
source : Gulf Times ( Qatar ) () 25
A shift in the Bank of England (BoE)’s focus from inflation to a darkening economic outlook became the latest reason to sell the pound. The UK currency fell almost 3% versus the US dollar last week, its worst performance since late September and the biggest drop among major currencies globally. After sinking the most in a month on Thursday, sterling looks set for another dip towards parity, with banks including Mitsubishi UFJ Financial Group Inc, Bank of America Corp and Cooperatieve Rabobank UA predicting a fall below $1.10 by the end of the year. The Bank of England’s struggle to get ahead of inflation has been a key driver of pound weakness all year and the latest selloff clips the pound

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