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What is the outlook for the British pound in the near-term?

Here is their view, courtesy of eFXdata:

Credit Agricole CIB Research discusses GBP outlook and flags a scope for downside risks in the near-term.

We have turned more cautious on the GBP given the lingering political (eg, “indyref2″) and economic risks (eg, a Covid-induced double-dip recession) in the UK.  We believe that the risks for the GBP are tilted to the downside in the near-term, especially if the health situation in the UK continues to deteriorate,” CACIB notes.

The data calendar should remain relatively light  with only the industrial and manufacturing production data for November on the docket,” CACIB adds.

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