Sterling to remain vulnerable, Rabobank says

The Dutch bank sees GBP/USD trading at $1.32 in three months and at $1.28 in 12 months

Monetary outlook: sterling is expected to weaken gradually versus the US dollar and euro over the next 12 months


The Bank of England’s decision to raise interest rates for the first time in more than a decade was a “one and done” move, and due to weakness in recent economic data, the central bank will not be able to follow up with another move for some time, according to Jane Foley, head of FX strategy at Rabobank.

Following the monetary policy announcement, sterling reacted “accordingly, and ultimately depreciated by 1.5% against the US dollar” – Foley expects this trend

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