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End-2024 Pound Sterling Forecast At 1.2950 Say MUFG: GBP/USD Outlook
Foreign exchange analysts at MUFG expect central bank interest rate decisions will dominate the Pound to Dollar exchange rate (GBP/USD) outlook. Despite the possibility of an early Bank of England (BoE) interest rate cut, MUFG considers that pessimism over US interest rate cuts is now overdone and is sees scope for GBP/USD to strengthen to 1.2950 at the end of 2024. GBP/USD dipped to 5-month lows just above 1.23 in April before a recovery to 1.2530. MUFG notes increased evidence of divisions within the BoE Monetary Policy Committee (MPC) with Governor Bailey and Deputy Governor Ramsden more confident that inflation ... (full story)