GBP: Running on empty; limited scope for GBP recovery - BofA

Cable is down 13 pips to 1.3582 today Bank of America Global Research maintains a bearish bias on GBP over the medium-term. "GBP's fall from grace has been swift. Stagflation is the current buzzword which seems to be hitting UK harder than most," BofA notes.  "What makes GBP particularly vulnerable is contagion impact spreading through UK markets. This limits scope for £ recovery...Our concerns about structural Brexit headwinds have crystallised. 2022 could put even greater focus and pressure on GBP," BofA adds. For bank trade ideas, check out eFX Plus. Invest in yourself. See our forex education hub.

GBP: Running on empty; limited scope for GBP recovery - BofA

Cable is down 13 pips to 1.3582 today

Cable is down 13 pips to 1.3582 today

Bank of America Global Research maintains a bearish bias on GBP over the medium-term.

"GBP's fall from grace has been swift. Stagflation is the current buzzword which seems to be hitting UK harder than most," BofA notes. 

"What makes GBP particularly vulnerable is contagion impact spreading through UK markets. This limits scope for £ recovery...Our concerns about structural Brexit headwinds have crystallised. 2022 could put even greater focus and pressure on GBP," BofA adds.

For bank trade ideas, check out eFX Plus.

Invest in yourself. See our forex education hub.