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Pound to US Dollar Week Ahead Forecast: Updated Ranges Eye 1.18-1.131 in Twelve Months
ING analysts forecast the Pound to Dollar exchange rate (GBP/USD) will strengthen to 1.31 on a 12-month view as the dollar loses ground. Danske Bank, however, expects GBP/USD will weaken to 1.18 on the same timeframe. GBP/USD was held in tight ranges overall and traded just below 1.2600 after finding support above February lows. Inflation data on both sides of the Atlantic were key influences during the week. The headline US consumer prices inflation rate declined to 3.1% from 3.4%, but above expectations of 2.9% while the core rate held at 3.9%. Credit Agricole commented; “For the Fed, there were few silver ... (full story)