1124 GMT - Sterling stands out as overbought among G10 currencies, boosted by positive seasonal factors and expectations for further interest rate rises by the Bank of England, Bank of America says. "With little evidence of foreign investors returning to fund the U.K.'s current account deficit, our bias is to fade this resilience in the coming months," BofA forex strategist Adarsh Sinha says in a note. A shift in the market's focus from rate differentials to growth differentials as a driver for foreign exchange is also likely to weigh on sterling, he says. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
April 25, 2023 07:24 ET (11:24 GMT)
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