23 Jan 2014
Flash: GB/USD seen at 1.6700 in 3, 6 and 12 months – UBS
FXstreet.com (Córdoba) - The UBS analyst team has changed its GBP forecast after the strong employment figures released Wednesday.
Key Quotes
"Another surprisingly large fall puts the British unemployment rate just 0.1 percentage points above the 7% threshold of the Bank of England, at which it could start hiking interest rates".
"Given the ongoing strength of the UK economy, we revise our forecasts to account for a stronger pound to come".
"We raise our three, six, and twelve month forecasts for GBPUSD to 1.67 (previously 1.65) and for GBPCHF to 1.54 (prev. 1.52), while lowering our EURGBP forecasts to 0.80 (prev. 0.81)".
Key Quotes
"Another surprisingly large fall puts the British unemployment rate just 0.1 percentage points above the 7% threshold of the Bank of England, at which it could start hiking interest rates".
"Given the ongoing strength of the UK economy, we revise our forecasts to account for a stronger pound to come".
"We raise our three, six, and twelve month forecasts for GBPUSD to 1.67 (previously 1.65) and for GBPCHF to 1.54 (prev. 1.52), while lowering our EURGBP forecasts to 0.80 (prev. 0.81)".