GBP/USD remains up 6% from its all-time lows at 1.0350 set last month. The pair retains a noteworthy fragility which threatens a quick return to test those lows again, economists at Credit Suisse report.

UK monetary and fiscal policy are working at cross purposes

“UK monetary and fiscal policy are working at cross purposes and that the scope for mistakes that create chaos is great, given the sheer number of actors that need to work seamlessly together to prevent renewed mayhem.”

“We set our GBP/USD Q4 range target at 1.0350-1.1400 and we continue to expect a move to the lower end of the range.”