GBP/USD to remain on the back foot as the pound faces strong headwinds – Rabobank GBPUSD Banks BOE UnitedKingdom
and, very importantly, direction from the Tory government and its new leadership will set the tone for the British pound. Economists at Rabobank expect further weakness for the GBP in the coming weeks.“The promise of higher interest rates is not a guarantee of GBP strength when the economy is facing recession. To this end, news of another bank holiday this month is not encouraging for the pound given that it is set to detract from the GDP numbers for September.
“If Truss can find a way to piece together a solution that strengthens relations with the EU, investors could take heart. This, however, will not be easy.”of GBP/USD 1.14.”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.
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