Economists at ANZ Bank see downside bias in GBP/CNH to 8.40-8.50 in H2 2020, before a rebound through 2021. Key quotes “The combination of high business uncertainty, growth slump, sharply rising unemployment, a large twin deficit (current account and budget) will weigh on GBP. Also, the BoE has not ruled out negative interest rates as a policy tool.” “Any up-move toward 8.9-9.0 will be a good level to initiate a short position in the cross.” “On the downside, we do not expect a retest of the last low at 8.12, but 8.40-8.50 is what we expect to see in H2 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China’s Premier Li: Will not hesitate in rolling out new policy measures if needed FX Street 3 years Economists at ANZ Bank see downside bias in GBP/CNH to 8.40-8.50 in H2 2020, before a rebound through 2021. Key quotes “The combination of high business uncertainty, growth slump, sharply rising unemployment, a large twin deficit (current account and budget) will weigh on GBP. Also, the BoE has not ruled out negative interest rates as a policy tool.” “Any up-move toward 8.9-9.0 will be a good level to initiate a short position in the cross.” “On the downside, we do not expect a retest of the last low at 8.12, but 8.40-8.50 is what we expect to see in H2… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
