#GBPUSD @ 1.16559 : There is limited possibility for appreciation – NBF
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GBP/USD flirted with all-time lows on September 1st, ending four-tenths away from the pandemic trough. Economists at the National Bank of Canada expect the pair to remain under pressure.
“The island nation is composing with a multitude of challenges ranging from inflation to political change. The economic outlook has deteriorated and will pose a navigational challenge for the Bank of England.”
“As the country appears headed for a recession, there is limited possibility for appreciation unless the trade-weighted USD descends from its lofty levels.”
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