Pound Sterling Forecast – Will the Pound Continue to Fall
The outlook for the pound continues to be on the negative side, as investors become less hopeful of an interest rate rise in the UK.
The Bank of England meet next week to discuss their latest Interest Rate decision, and the odds are very high of a continued pause.
Recent economic data seems to also indicate this is likely to the case, with continued concern over the economic outlook for the UK.
Our forecast data suggests a weaker pound
Here at pound sterling forecast, our experts monitor the currency market forecast data that is available, to try and gauge the economic outlook.
Overall, we see a majority of the forecasters we have consulted suggesting the pound will be weaker in the future.
A higher interest rate will usually lead to a stronger currency, as it makes it more attractive to hold that currency.
With the Bank of England now appearing to have paused in their current interest rate hike cycle, the prospect for sterling to be stronger in the future has declined.
When should I buy Euros or US Dollars with pounds?
With the outlook for sterling having deteriorated because of a predicted lower ‘terminal’ interest rate for the UK, it might be argued that moving sooner than later is better.
Of course, no one can accurately predict exactly where the currency markets will be headed, but there is a majority of the forecasters who believe the pound will be weaker.
If you have any international payments to consider in the future involving the pound, it might therefore be wise to consult with us regarding the latest outlook and data.
We can carefully look at your position to try and best determine what options are available for you and what strategy will be best suited for you.
Please contact myself Jonathan Watson on Jonathan.watson@@lumonpay.com to learn more.
The post Pound Sterling Forecast – Will the Pound Continue to Fall appeared first on Pound Sterling Forecast.
Source: https://www.poundsterlingforecast.com/2023/10/pound-sterling-forecast-will-the-pound-continue-to-fall/
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