LONDON, Nov 10 — Sterling edged lower today as Britain and the European Union looked far from finding a post-Brexit agreement trade on Northern Ireland, while Bank of England interest rate raise bets ebbed.
Sterling was under renewed pressure after the Irish government ministers met to dust off contingency plans in case disagreements between Britain and the EU trigger major trade disruption. “Downside risk may emerge for the pound in the coming days as it looks increasingly likely that the UK will unilaterally suspend parts of the Northern Ireland Protocol,” analysts at ING said.
In its November policy meeting, BoE left its main interest rate unchanged at 0.1 per cent having previously signalled it could raise it. Markets are now pricing a December interest rate rise, but uncertainty remains high. .
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