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Dec 07 - 02:55 PM

GBP/USD: Looks Like An Easy Sell For A Break Below 1.32 - SocGen

By eFXdata  —  Dec 07 - 01:30 PM

Societe Genearle Research discusses GBP outlook and sees a scope for a move below 1.32.

"Brian Hilliard joined the throng yesterday, pushing his forecast of a Bank of England rate hike to February. Delaying to a time when there will be less uncertainty about both Covid and the economy makes sense. By contrast, the FOMC on the 15th should still see a decision in favour of faster tapering," SocGen notes. 

"That’s an easy sell (by a hawk, to a dove), because it commits the Fed to nothing on rates and with yields this well anchored, why not taper faster? The result though, of these two meetings, could be that GBP/USD makes its next move lower before EUR/USD does," SocGen adds. 

Source:
Société Générale Research/Market Commentary

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