{"id":11269,"date":"2009-08-17T00:00:00","date_gmt":"2009-08-17T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"sterling-falls-as-bears-raise-pressure-over-stimulus-cash","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/sterling-falls-as-bears-raise-pressure-over-stimulus-cash.html","title":{"rendered":"Sterling falls as bears raise pressure over stimulus cash"},"content":{"rendered":"<p>This is London &#8211; It also led many in the City to believe the Bank favours a weak currency, prompting a series of downbeat &shy;forecasts today. &ldquo;I&#8217;m super bearish on the pound,&rdquo; said Hans-Guenter Redeker, the London-based head of foreign exchange at BNP Paribas. <\/p>\n<p>&ldquo;The Bank of England has made it clear it can&#8217;t afford a stronger &shy;currency.&rdquo; He forecast the pound would fall to $1.50 in 12 months.<\/p>\n<p>John Taylor, chief executive of New York hedge fund FX Concepts, said sterling will &ldquo;get crushed&rdquo; and sink as low as $1.45 in the coming months.<\/p>\n<p>&ldquo;The fundamentals in the UK are certainly not pretty,&rdquo; he said. &ldquo;It&#8217;s a race for the least ugly of the candidates, and I would argue that the US is going to be the least ugly for a while.&rdquo; Others were more upbeat and said the &shy;measures taken by the Bank and the Government to ease the slowdown will boost sterling. HSBC predicted the pound would rise to $1.75 by the end of next year &mdash; midway between the high of $2.12 in November 2007 and the low of $1.38 in March this year. <\/p>\n<p><strong><a target=\"_self\" href=\"http:\/\/www.thisislondon.co.uk\/standard-business\/article-23733005-details\/Sterling+falls+as+bears+raise+pressure+over+stimulus+cash\/article.do\" title=\"Read Complete Article\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is London &#8211; It also led many in the City to believe the Bank favours a weak currency, prompting a series of downbeat &shy;forecasts today. &ldquo;I&#8217;m super bearish on the pound,&rdquo; said Hans-Guenter Redeker, the London-based head of foreign [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[8830,4164,598,67,12041,12875,1196,15340,11148,2231,1670,4494,15341,15339,1916,14887,7755],"class_list":["post-11269","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-12-months","tag-bank-of-england","tag-bnp-paribas","tag-chief-executive","tag-currency","tag-foreign-exchange","tag-fx-concepts","tag-guenter","tag-hedge-fund","tag-hsbc","tag-john-taylor","tag-measures","tag-midway","tag-redeker","tag-slowdown","tag-sterling","tag-this-is-london"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11269"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11269\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}