GBP/USD: A test of the 1.25 support is on the cards – ING GBPUSD BOE UnitedKingdom Banks
, which is now struggling to hold on to the 1.28 level. Economists at ING believe that the pair could plunge towards 1.25 in the coming weeks.“Some weaker-than-expected retail sales figures for March probably fed some already ongoing re-rating of UK growth expectations and the notion that the British economy was more insulated than other European countries from the fallout of the Ukrainian conflict.
“The deterioration in risk sentiment, risks of a dovish re-pricing in the BoE rate expectations and potentially some re-emergence of negative Brexit-related headlines continue to pose downside risks to the pound in the coming weeks, and a test of the 1.25 support cannot be excluded.” Information on these pages contains forward-looking statements that involve risks and uncertainties.
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