Analysts at MUFG Bank remain bearish on the pound and see increased prospects of a decline below the 1.2000 level versus the dollar. Key quotes “There is an increasing risk that investors view the outlook for the UK more negatively relative to elsewhere, thus encouraging increased speculative selling.” “Growth may have contracted by around 15% in Q2, with downside risks given a tighter lockdown is set to continue longer in the UK than elsewhere. That’s looking like the UK will be on the worse end of hits to real economic growth.” “The UK’s current account deficit leaves GBP more vulnerable. Amongst G10 countries, the UK is currently running the worst current account balance.” “We see a test and breach of the 1.2000 level in GBP/USD as a likely prospect over the short-term.” 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 USD/CAD: Reopening to lower the pair – Danske Bank FX Street 2 years Analysts at MUFG Bank remain bearish on the pound and see increased prospects of a decline below the 1.2000 level versus the dollar. Key quotes “There is an increasing risk that investors view the outlook for the UK more negatively relative to elsewhere, thus encouraging increased speculative selling.” “Growth may have contracted by around 15% in Q2, with downside risks given a tighter lockdown is set to continue longer in the UK than elsewhere. That’s looking like the UK will be on the worse end of hits to real economic growth.” “The UK’s current account deficit leaves GBP more vulnerable.… 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.
