GBP/USD seen at 1.22 by end-2023 and at 1.24 by mid-2024 – Wells Fargo GBPUSD BOE Banks InterestRate
Economists at Wells Fargo expect the GBP/USD pair to move gradually higher toward 1.22 by the end of the year.“Should inflation continue to show a pronounced declaration, and activity and survey data show renewed softening, we expect the BoE to deliver a final 25 bps rate to 4.25% in March and to begin cutting interest rates as early as Q4 of this year.
is an important reason we expect that, over the medium-term, the Pound will be an underperformer against a broadly soft USD, targeting a GBP/USD exchange rate of just 1.2200 by the end of this year and 1.2400 by mid-2024.”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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