GBP/USD seen around 1.1700 in mid-2023 – Wells Fargo By MSalordFX GBPUSD Currencies Banks
According to analysts at Wells Fargo, the mix of measured monetary tightening and rapid inflation, combined with the slowdown in UK economy, provides an underwhelming backdrop for the pound. They revised their forecast for the GBP/USD lower and now see it around 1.1700 in mid-2023.“We expect the U.K. central bank to begin lowering its policy interest rate during the second half of 2023, by a cumulative 50 bps to 1.50% by the end of next year.
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