#GBPUSD @ 1.19759 to stay soft through March, returning to 1.23/1.25 this summer – ING
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
GBP/USD has been sluggish near 1.20. Economists at ING expect the pair to remain under pressure for now before recovering to 1.23/1.25 by the summer.
“Unlike the Federal Reserve (+75 bps) and European Central Bank (+100 bps), we think the Bank of England may only have 25 bps more of tightening left to do – taking Bank Rate to 4.25%. This is partly because more equivocal speeches from BoE officials and key survey data suggest tightness in the UK labour market is abating.”
“Our game plan sees GBP/USD staying soft through March on the strong Dollar (1.1850 the potential and outside risk to 1.1650), before broader Dollar weakness sees cable return to 1.23/1.25 this summer.”
“A difficult equity environment could also challenge Sterling.”
[/s2If]
Join Our Telegram Group
