Whether you are looking to buy or sell, a GBP to dollar forecast will help you make better financial decisions. It is based on a number of factors including: economic indicators, interest rates and commodity prices. It also shows support and resistance levels for the pair. The UK and US are both struggling with high inflation and slow growth. The Fed’s interest rate hikes and safe-haven flows are helping the US Dollar rise against the pound. The Pound to Dollar forecast is also sensitive to a number of important economic data releases this week. In the next couple of days, we should see UK inflation data and US PPI, as well as US non-farm payrolls.
If the PPI number surprises on the positive side, then the pound could rise against the dollar. However, if the numbers are disappointing, then the exchange rate may pull back. Another factor that could influence the Pound to Dollar forecast this week is behavioral sentiment. If investors are apprehensive about interest rate decisions, then the exchange rate may stall. However, if the pound gains on stronger economic data, then the pair may attempt to rally further. A few analysts have even suggested that GBP may actually reach parity with the dollar. However, this is only possible if the U.K. government responds with a more prudent fiscal policy.
The pound to dollar forecast may be slightly more complicated than it appears. Several factors can affect the pair, such as the US economy, and UK and Chinese economic data. The Pound may not be able to maintain its recovery if these factors are not addressed. During the past week the Pound has dropped against the Euro. It is not yet clear if this trend will continue. A lot depends on the latest news and technical analysis. The Bank of England has recently announced that it is boosting interest rates. The rate hikes have weighed on the value of the British pound. However, the BoE’s hawkish monetary policy is expected to have several negative impacts on the economy.
The European Central Bank is expected to hike interest rates once again in December. The ECB has hiked rates three times in the past six months. The euro lost value against the US dollar and benefitted from general dollar weakness. The euro’s value was capped by a weaker inflation rate. The European Central Bank’s chief economist, Philip Lane, said that the inflation rate is at a peak and that more rate hikes will be needed to bring it closer to its target. The ECB raised rates in July and will probably raise them again in September. Analysts expect the BoE to raise rates as well. The Euro is expected to rise to a level of around 86 pence in the first quarter of next year. The Pound has lost around 15% against the dollar this year. Check the pound to euro forecast right now.
The euro was also under pressure from the energy crisis. ECB member Constantinos Herodotou said that euro zone rates were near neutral. The EU trade deficit in energy almost tripled to EUR290.8 billion in the first half of 2013. Inflation rates in the bloc were slightly lower than expected. In addition to the live chat option, Bybit also has a help center and separate FAQ section for its customers. Customers can also raise a ticket if they have any questions or concerns. Furthermore, the company shares tutorials and guides on its Twitter and YouTube channels.
