GBP/USD to reach the 1.40 level by end-2024 – Scotiabank

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26 July 2023

GBP/USD to reach the 1.40 level by end-2024 – Scotiabank

Economists at Scotiabank maintain a bullish GBP view.

Supportive yield differentials lift GBP

The GBP has recovered more than three-quarters of its sharp 2022 decline and is likely to remain well-supported by positive yield spreads moving forward, even as very tight monetary policy will compromise the UK growth outlook moving into next year.

We are upgrading our GBP forecast to 1.35 for the end of 2023 (from 1.30) and to 1.40 for the end of 2024 (from 1.28).

See: GBP/USD may find it hard to go much beyond the 1.30 level – HSBC

USD/JPY to quickly target 145 on a dovish BoJ outcome – Credit Suisse

United States New Home Sales Change (MoM) fell from previous 12.2% to -2.5% in June

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