Against a backdrop of dollar strength combined with bleak local economic prospects, economists at Wells Fargo They expect the Euro and the Pound to perform worse.
Pound and Euro weaker until early 2024
Surveys on sentiment for both economies have softened considerably in recent months, and European underperformance relative to the US should weigh on both currencies.
The European Central Bank and the Bank of England have also signaled that interest rates have likely peaked, reducing interest rate support for their respective currencies.
Against this backdrop, we forecast a weakening of the pound and euro until early 2024, with a low for GBP/USD around 1.1600 and a low for EUR/USD around 1.0200.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
