FXStreet (Guatemala) – Analysts at Scotiabank explained that GBP is up on the back of as-expected Q4 GDP data (0.5% q/q, 1.9% y/y), with gains suggesting relief and positioning that had been biased to disappointment.
Key Quotes:
“GBP has shown signs of stabilization over the past week with a near-2% rise off last Thursday’s multiyear low. Near term stabilization may continue as market participants reassess the balance of risks to relative central bank policy following Wednesday’s Fed.
The medium-term outlook remains bearish as we look to Brexit risks presented by the looming mid-year referendum.”
(Market News Provided by FXstreet)