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Trading news
24 Apr 2015
GBP could weaken ahead of UK elections – Danske Bank
FXStreet (Edinburgh) - Analyst at Danske Bank Mikael Milhoj expects the sterling to lose momentum ahead of the UK elections in May 7th.
Key Quotes
“Despite the slowdown in growth in Q1, we expect it to rebound in the coming quarters”.
“Higher employment and positive real wage growth should support private consumption”.
“The economic recovery in the rest of Europe is good news for UK exports as increasing growth in UK export markets more than offsets the negative impact on exports from the stronger GBP against the EUR”.
“The GBP depreciated against both the EUR and USD following the release. The weak figures support our view that the GBP will weaken against the USD ahead of the election on 7 May”.
Key Quotes
“Despite the slowdown in growth in Q1, we expect it to rebound in the coming quarters”.
“Higher employment and positive real wage growth should support private consumption”.
“The economic recovery in the rest of Europe is good news for UK exports as increasing growth in UK export markets more than offsets the negative impact on exports from the stronger GBP against the EUR”.
“The GBP depreciated against both the EUR and USD following the release. The weak figures support our view that the GBP will weaken against the USD ahead of the election on 7 May”.