1403 GMT - Sterling is unlikely to rise much further even after the Bank of England's meeting Thursday prompted markets to scale back bets for another interest-rate cut in June, TD Securities analysts say in a note. "Our positioning and short-term fair value models point to sterling looking expensive," they say. That should keep sterling rangebound against the dollar absent another dollar selloff, they say. Short-seller bets against the dollar looked stretched, suggesting the U.S. currency could rebound. Against the euro, sterling could also underperform due to structural flows into Europe, with the euro emerging as the liquid alternative safe haven to the dollar, TD's analysts say. Sterling rises 0.3% to $1.3337. The euro falls 0.3% to 0.8477 pounds.(renae.dyer@wsj.com)

(END) Dow Jones Newswires

May 08, 2025 10:03 ET (14:03 GMT)

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