#GBPUSD @ 1.24283 may bounce around in a 1.20-1.25 range in Q2 – ING
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Economists at ING have been surprised by Sterling’s strength in March. What now? GBP/USD may bounce around in a 1.20-1.25 range.
“Based on our EUR/USD view for the second quarter, we suspect GBP/USD may bounce around in a 1.20-1.25 range. Events in the US, however, give us greater conviction that it trades at 1.28/1.30 later in the year as the Fed pushes through with easing.”
“An early pause from the BoE in May could also support the view that GBP/USD will struggle to sustain a move above 1.25 in the second quarter.”
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