#GBPUSD @ 1.12876 : A return to sub-1.10 levels is on the cards – ING
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GBP/USD is trading under pressure below 1.1300. In the view of economists at ING, the pair could trade back below the 1.10 level.
“We still struggle to see a return to 1.15+ levels in cable, as a combination of political instability, risks of a deeper recession and smaller rate hikes by the BoE along the path of fiscal rigour – along with a strong dollar – may more than offset the benefits of quieter debt-related concerns.”
“It’s too early to dismiss a return to sub-1.10 levels.”
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