Sterling remains under heavy selling pressure. The Rabobank economists expect pound to remain vulnerable in coming months.
EUR/GBP will rise to 0.90 within 6 months
“By the time the BOE meets again, recessionary conditions in the UK economy are likely to be even more apparent. This suggests there is no guarantee that the GBP will react well to rate hikes given the huge headwinds in they face growth prospects.”
“Although the GBP is no longer trapped in the unnecessary crisis triggered by a poorly timed and thought out mini-budget, based on the fundamental background of the UK we continue to describe the pound as vulnerable, as we have done for many months.”
“We maintain our forecast of 1.06 GBPUSD six months“.
“We see pPotential for EURGBP to rise to 0.90 on six month view“.
Source: Fx Street
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