Jonathan Cook
on December 27th, 2023 GBP/EUR dipped by around 0.75% last week, while sterling rose slightly against a weakened dollar.
The question for the UK now is when the recession will arrive. With GDP falling and inflation now below 4%, the Bank of England will surely come under increasing pressure to lower borrowing costs. They are not expected to fold soon, but the heat may ramp up if the Fed and the ECB act first.
GBP/USD: the past year
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