GBPUSD to sink towards 1.06 over coming months – Rabobank
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The British Pound remains under heavy selling pressure. Economists at Rabobank expect GBP to remain vulnerable in the coming months.
“By the time the BoE next meets, it is likely that recessionary conditions in the UK economy will be even more apparent. This suggests that there are no guarantees that GBP will react well to higher rates in view of the huge headwinds facing the outlook for growth.”
“While GBP is no longer caught up in the unnecessary crisis triggered by a poorly timed and thought-out mini-budget, based on the UK fundamental backdrop we continue to describe the Pound as vulnerable, as we have done for many months.”
“We maintain our six-month GBPUSD 1.06 forecast.”
“We see potential for EURGBP to climb to 0.90 on a six-month view.”
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