The pound to dollar exchange rate has seen an improved outlook thanks to signs that the US Federal Reserve is pushing back its intensions for its first interest rate rise of 2015.
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The pound sterling (GBP) is predicted to decline through the first half of 2015 before the onset of a recovery.
Read more … →The January FOMC minutes have indicated that the US Federal Reserve is increasingly concerned about downside risks to inflation.
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“One thing we haven’t heard the MPC mention yet however is the strength of sterling over the past year.” - Andy Scott at HiFX.
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“Once again, we have the impression that USD strength due to higher yields is the dominant factor, rather than equity strength on hope for a solution for Greece.” – Piet Lammens at KBC Markets.
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Fresh analysis from Morgan Stanley has seen analysts at the investment bank call time on their bullish stance towards the US currency.
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The dollar exchange rate complex (USD) has come under significant pressure on fresh signs that US economic growth is starting to lose momentum.
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