Forex Flash: Sterling under siege as further stimulus eyed by BoE – UBS

FXstreet.com (Barcelona) - Weale's comments on Thursday are a further sign that sterling will stay under pressure as the BoE may be in a position to add stimulus. We also note that Weale did not vote in recent decisions but his stance may be changing. The market should remember that Carney's N-GDP targeting intentions were never really abandoned despite his cautious comments before the Treasury Select Committee in February.

There may be incentives to use the window of opportunity amid the BoE's remit review before August to revisit this option. “Expectations matter: merely re-igniting discussion will support prices, but it will come at a cost to sterling.” warns Research Analyst Gareth Berry at UBS.