Pound to Dollar X-Rate Crashes Monday, GBP/USD @ 1.20 Now Forecast as UK Seen Entering Recession

The UK economy is headed for recession say a number of analysts, something that will ensure the headline GBP to USD exchange rate remains under pressure for some time.

• "we expect cable to fall into the mid-1.2000’s in the second half of this year" - Bank of Tokyo Mitsubishi.
• "We would, however note that sharp sell-offs in GBP have historically proved short-lived." - Bank of America Merrill Lynch.
• 1.20 is worst-case scenario say CIBC Markets
• 1.30 appears to be first major level of support

Published By - poundsterlinglive.com- Updated Monday, 27 June 2016 13:21