Australian dollar should be supported while sterling will suffer – UBS

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The economists from UBS update their forecasts for the Swiss franc, the British pound and the Australian dollar.

Weak growth prospects and still high inflation will weigh on sterling

“We move the Swiss Franc to Neutral following strong gains against the US dollar. However, we believe that the Swiss National Bank is committed to preserving the franc’s strength to limit imported inflation, and that the currency will be supported by safe-haven flows.”

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“In the UK, it is likely that weak growth prospects and still high inflation weigh on sterlingand we stand by our least preferred opinion.”

“We like the Australian dollarthat should be supported by the reopening of Chinarelatively strong domestic economic growth, and a central bank that is likely to hold a tight rein when the Federal Reserve is beginning to ease monetary conditions.”

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Source: Fx Street

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