Back
25 Feb 2013
Forex Flash: UK downgrade to open up additional GBP downside - HSBC
The HSBC FX research team has been advocating for Pound weakness since early this year, a while before the recent decision taken by Moody's to cut the UK's rating.
Following the downgrade, the bank continues to support the bearish calls, saying "the implications for GBP are negative..." adding that "we retain our 2013 year-end forecasts of 1.48 on GBP-USD and 0.91 on EUR-GBP."
Following the downgrade, the bank continues to support the bearish calls, saying "the implications for GBP are negative..." adding that "we retain our 2013 year-end forecasts of 1.48 on GBP-USD and 0.91 on EUR-GBP."