Westpac Analysts believe that the pound may decline against the dollar after Finance Minister Alistair Darling forecast slowdown in economic growth at 3.5% this year. The bank believes that the currency could fall up to $ 1.40 and below, if probet level of support in the area of $ 1.4380 to $ 1.44. Data on the budget constraint may be the recent growth of cross-rates with the pound. Pound has depreciated by 1.2% against the dollar (1.4498) and at 1.6% - against the euro (89.67). Mizuho also predicts the weakening of the pound.
Mizuho Corporate Bank canceled its bullish outlook for the pound after a report on the budget was announced to increase the income tax. Changing the tax severely hit by the British currency, as investors will stop investing in the economy of Britain in search of a more acceptable tax regime. During the month, the euro / pound will be traded at stg0.95 (compared with the previous stg0.80). The bank forecast a weakening of the pound to $ 1.40 (the previous forecast of - $ 1.50 above).
Mizuho Corporate Bank canceled its bullish outlook for the pound after a report on the budget was announced to increase the income tax. Changing the tax severely hit by the British currency, as investors will stop investing in the economy of Britain in search of a more acceptable tax regime. During the month, the euro / pound will be traded at stg0.95 (compared with the previous stg0.80). The bank forecast a weakening of the pound to $ 1.40 (the previous forecast of - $ 1.50 above).
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