GBP/USD to remain on the support foot as the pound faces trusty headwinds – Rabobank

GBP/USD to remain on the support foot as the pound faces trusty headwinds – Rabobank

UK financial data, guidance from the Bank of England (BoE) and, very importantly, course from the Tory govt and its new management will diagram the tone for the British pound. Economists at Rabobank assign a matter to extra weak point for the GBP in the upcoming weeks.

PM Truss does have the capability to contemplate support some investor self belief  

“The promise of higher interest rates is now not a guarantee of GBP energy when the economy is going by recession. To this pause, data of one other monetary institution vacation this month is now not encouraging for the pound given that it is diagram to detract from the GDP numbers for September.”

“If Truss can receive a methodology to part collectively a resolution that strengthens relatives with the EU, investors would possibly perhaps per chance per chance agree with coronary heart. This, then again, would possibly perhaps per chance now not be straightforward.”

“For now, the headwinds going by the pound are still very trusty. We agree with our one-month forecast of GBP/USD 1.14.”

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