Sterling edges lower after BoE warns some asset prices look stretched | Malay Mail

LONDON, July 13 — Sterling edged lower today after the Bank of England scrapped pandemic-era curbs on dividend payments by banks but warned some asset prices look stretched.

The bank added it is keeping a close eye on the housing market and how fast rising prices translate into household indebtedness. “Bailey has underlined heightened sensitivity to higher borrowing in weaker parts of the economy in addition to warning regarding potential threats to asset price valuations,” he added.

Sterling has been among the top performing G10 currencies this year following Britain’s quick vaccination rollout, which encouraged hopes for a quick economic recovery.“Investors seems to be torn between optimism fuelled by the imminent lifting of all remaining corona restrictions in England and concerns about the spread of the Delta variant,” Commerzbank wrote in a note to clients.

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