Banca Intesa SanPaolo forecast GBP/USD to hit a low of 1.4000 in one month's time before starting a long recovery back up to the 1.50's by the summer.
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The pound to euro exchange rate has pushed under the golden 1.3000 mark and is pressing lower, positive U.K employment data however has put up some short-term resistance.
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The date of the first interest rate rise at the Bank of England now looks to be in 2017.
Read more … →Employment data out of the UK on Wednesday 20th of January provided a welcome relief to those hoping for an end to sterling’s decline.
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The recovery seen in the British pound at the start of the week has reversed following dovish comments from a Bank of England policy maker.
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The pound has reached a key support level against the Indian rupee supported by strong fundmaentals. If breached it could see the rupee rise substantially as GBP/INR goes lower.
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The Norwegian Krone has shrugged off the recent decline in oil prices due its to strong structural fundamentals, and, according to analysts at HSBC, is set to appreciate going into 2016.
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