GBP/USD could trade back to 1.15-1.20 on convincing fiscal U-turn – ING GBPUSD UnitedKingdom FiscalPolicy Banks
“We continue to see elevated volatility in the pound and mostly downside risks beyond any potential relief rally after today’s announcement by the new Chancellor. We suspect anyway that the government will need to sound very convincing in their fiscal U-turn to bring cable sustainably back to 1.15-1.20.”
“Sub-1.10 levels, also considering our call for a stronger dollar, remains our base case scenario in the coming months.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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