GBP/USD has suffered a substantial drop. Economists at ANZ Bank expect the British pound to remain under downside pressure for the time being.
EUR/GBP to remain within historical ranges
“We expect the GBP to remain under pressure as it trades close to a 40-year low amid USD strength in the near-term.”
“EUR/GBP will continue to remain within historical ranges, primarily led by volatility in the EUR.”
“Over the medium-term, the end of the two-year fiscal plan on energy prices, coupled with a USD reversal, may lead to some recovery in the GBP.”
