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2 Apr 2013
Forex Flash: GBP/USD year-end target at 1.45 – Scotiabank
FXstreet.com (Barcelona) - The sterling is losing more than one big figure on Tuesday, rapidly falling from overnight highs in the vicinity of 1.5260 to the current area of 1.5110/15.
The pessimism surrounding the pound increased after the manufacturing PMI print remained in contraction territory during March, despite the advance to 48.3 from 47.9 in February.
Camilla Sutton, Strategist at Scotiabank, expects the BoE to leave its monetary policy intact on Thursday. “We do expect that the minutes will ultimately show a shifting balance towards asset purchase expansion. The dynamics in the UK are FX negative. We hold a GBPUSD year‐end 1.45 target”, concluded Sutton.
The pessimism surrounding the pound increased after the manufacturing PMI print remained in contraction territory during March, despite the advance to 48.3 from 47.9 in February.
Camilla Sutton, Strategist at Scotiabank, expects the BoE to leave its monetary policy intact on Thursday. “We do expect that the minutes will ultimately show a shifting balance towards asset purchase expansion. The dynamics in the UK are FX negative. We hold a GBPUSD year‐end 1.45 target”, concluded Sutton.