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- GBP/USD to see an extension of the recent range of 1.2430-1.2600 – Westpac
GBP/USD to see an extension of the recent range of 1.2430-1.2600 – Westpac
GBP/USD is mainly a USD story, with UK-US yields spreads favouring the USD. Ahead of the Bank of England (BoE) meeting next week, economists at Westpac remain neutral, expecting an extension of the recent range of 1.2430-1.2600.
GBP/USD remains mostly a USD story
“The BoE is expected to hike four more times this year, taking the base rate to 2.0% which is considered around neutral. Despite the prospect of higher rates, GBP remains vulnerable to retesting its recent lows.”
“GBP/USD is mainly a USD story, with UK-US yields spreads also favouring the USD.”
“Ahead of the MPC, we remain neutral, expecting an extension of the recent range of 1.2430-1.2600.”
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