ING: GBP/USD could hit 1.50 this year

04.01.2018 / 17:36

Rating:

This may be the year in which the GBP will end the bearish trend and will return to the levels before the Brexit decision.

An early UK-EU trade deal and positive economic data coming from the island could boost sterling profits and even lead to an increase in the Bank of England interest rate in the first half of the year, says Viraj Pate, strategist at ING Group NV. The Dutch bank is not the only one who thinks GBP will grow in 2018. Bank of America Merrill Lynch and Nomura International also expressed their opinion, and the consensus forecast is at a peak of about $1.52 per pound.

ING believes that the 2017 growth. compared to the USD will continue, and in the next three months the price of 1.40 GBP/USD is fully possible, and after reaching, short-term consolidation.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

Bloomberg: Pound to Shake Off Brexit Blues and Hit $ 1.50 This Year: ING

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ING: GBP/USD could hit 1.50 this year

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