3 Sep 2013
Flash: GBP/USD outlook improves, pegged at 1.53 by year-end – Investec
FXstreet.com (Lisbon) - The Investec Research team grapples the effect of robust UK economic growth, coupled with an improved GBP/USD forecast by year-end.
Key quotes
“The recent revised GBP estimates in the United Kingdom suggest the economy grew by 0.7% in Q2 and even though better weather was a health factor, various indicators point to an underlying strengthening in activity.”
“We have nudged our GBP/USD forecasts up to +1.3% this year and +2.4% next. Following the BoE Governor Mark Carneys Inflation Report press conference, our central case is now that there will be no further QE.”
“On the back end of this we are raising our year-end GBP/USD forecast to 1.53 from 1.48.”
Key quotes
“The recent revised GBP estimates in the United Kingdom suggest the economy grew by 0.7% in Q2 and even though better weather was a health factor, various indicators point to an underlying strengthening in activity.”
“We have nudged our GBP/USD forecasts up to +1.3% this year and +2.4% next. Following the BoE Governor Mark Carneys Inflation Report press conference, our central case is now that there will be no further QE.”
“On the back end of this we are raising our year-end GBP/USD forecast to 1.53 from 1.48.”