GBP to remain on the back foot in the months ahead – Rabobank

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The UK is the only G7 economy with output below its pre-pandemic level. Economists at Rabobank expect the British Pound to remain under downward pressure over the coming months.

“Currently, the UK is the only G7 economy not to have recovered its pre-pandemic levels. In addition to weak growth, its fundamentals are characterised by high inflation, low productivity, weak investment growth, post-Brexit trade frictions and a current account deficit.”

“We continue to expect EUR/GBP to edge to 0.90 by the middle of the year and see scope for further dips below GBP/USD 1.20.”

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