#GBPUSD @ 1.08013 could retest 1.0350 over the next month – ING
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GBP/USD has recovered the 1.08 level. Nonetheless, economists at ING expect the pair to ease back lower towards 1.0350.
“FX markets feel like the dollar is going into early 1980s over-drive territory and barring a stark reversal in hawkish Fed expectations or slowing growth dynamics, we would say cable could retest 1.0350 over the next month.”
“On a day in which the dollar is consolidating, GBP/USD could trace out something like a 1.07-1.09 range.”
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