Foreign exchange forecasters at ING expect that the US Dollar can maintain a firm tone in the short term. It does, however, expect notable deterioration over the second half of the year which will trigger rate cuts. The bank expects that yield spreads will move against the US Dollar with the Bank of England resisting any rate cuts. The bank expects that the Pound to Dollar (GBP/USD) exchange rate will strengthen to 1.33 at the end of 2023. For reference, GBPUSD is priced at 1.24453, so this would mark a 6.86% rise compared to today's exchange rate. US Economy to Deteriorate ING considers that the dollar could hold a ... (full story)