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2025-12-19 00:51:40
[Strategist: Sterling Rises Partly Due to Market Positioning Ahead of Decision] Convera strategist George Visey noted in a report that the pound rose after the Bank of England narrowly passed its rate cut decision on Thursday, partly due to market positioning prior to the announcement. He stated that a pessimistic sentiment permeated the pound market before the decision, and speculative short positions appeared excessive. He pointed out that the attractive yields of the pound made it easy for the market to be caught off guard by the Bank of England's narrow 5-4 decision to cut rates by 25 basis points to 3.75%. The pound's rise "precisely reflects this market dynamic."
