Sterling Could Ease Further Versus Euro Given Weak Economic Outlook -- Market Talk

Dow Jones03-23

1109 GMT - Sterling's pullback versus the euro in recent days looks justified given the headwinds facing the U.K. economy amid the Middle East conflict, Commerzbank's Michael Pfister says in a note. Before Friday's pullback, sterling had strengthened against the euro as the market expects the Bank of England to pivot towards raising interest rates due to rising energy prices. However, rate rises aren't necessarily positive in a context of strained public finances and a struggling real economy, Pfister says. Sterling could ease further against the euro in coming weeks, he says. The euro falls 0.1% to 0.8660 pounds but remains near Friday's two-week high of 0.8679. The euro on Thursday hit a six-and-a-half-month low of 0.8610, LSEG data show. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

March 23, 2026 07:09 ET (11:09 GMT)

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However, rate rises aren't necessarily positive in a context of strained public finances and a struggling real economy, Pfister says. Sterling could ease further against the euro in coming weeks, he says. The euro falls 0.1% to 0.8660 pounds but remains near Friday's two-week high of 0.8679. The euro on Thursday hit a six-and-a-half-month low of 0.8610, LSEG data show. 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