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- GBP/USD to trend back higher in the second half of the year – ANZ
GBP/USD to trend back higher in the second half of the year – ANZ
Economists at ANZ Bank expect the GBP/USD pair to regain ground through the second half of the year. For next week’s Bank of England (BoE), they expect the “Old Lady” to deliver a 25bp rate hike.
Gradual appreciation to unfold in the second half of 2022
“We expect the BoE will raise rates by 25bp at its May meeting and signal the potential for rates to rise further, although it is unlikely to match the Fed. We still think an appreciation in GBP is a desirable outcome for the BoE, given that the UK imports around 80% of consumer durables.”
"Our expectation that the USD may be close to peaking versus EUR is also relevant to our GBP outlook. In the second half of the year, we expect gradual GBP/USD appreciation to unfold.”
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