Nov 04, 2022
VOT Research Desk
GBPUSD remained close to 1.15 over the previous week before falling to 1.12 in response to the BoE’s dovish 75 basis point move.
Westpac economists predict that at the end of 2023 and 2024, respectively, Cable will trade at 1.20 and 1.27.
The future is risky because the government of Prime Minister Rishi Sunak is likely to tighten its position while the economy is still very poor.
Market confidence and lower energy and inflation risks are projected to prevail in the end, pushing the GBPUSD higher to 1.20 and 1.27 by the end of 2023 and 2024, respectively.
