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Sterling to fall 15 percent on slowing UK growth, BoE inaction: Voya
Sterling is set to plummet by double-digits by the end of the year on slowing UK economic growth and the likelihood the Bank of England will hold off raising interest rates, said Guy Petcho of Voya Investment Management. Petcho, global macro portfolio manager for the $213 billion investment firm, said in an interview that sterling was set to fall about 15 percent from its level on Friday of around $1.2960 to $1.10 GBP=. The former Soros Fund Management analyst said second-quarter UK economic growth would likely be weak at slightly below 1 percent on an annualized basis. Petcho, who is based in Atlanta, expected total ... (full story)
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