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Nov 23, 2022 · HSBC now forecast the Pound to Dollar exchange rate to trade at 1.14 by year-end, an upgrade from their previous prediction of 1.10. The end-Q1 figure is now 1.15, up from 1.08, end-Q2 is up to...
Jan 2, 2024 · The Pound to Dollar (GBP/USD) exchange rate peaked at 4-month highs around 1.2830 on December 28th before a significant retreat to 1.2715 on Tuesday as the dollar regained some ground. Seasonal factors will be potentially significant with the dollar tending to weaken ahead of the year end and then regaining ground in January.
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What are the 2023 exchange rate forecasts from HSBC?
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What are the exchange rate forecasts for 2023?
Will the pound move lower vs euro in New Year 2023?
- Global Optimism Will Undermine Dollar Demand
- Complications Surrounding Us Recession Fears
- Euro Support from A Stronger Capital Account
- Sterling to Attract Bargain Hunters
- Swiss Franc to Lose Ground
HSBC expects that the degree of confidence in the global economy will be a key element during 2023. Although HSBC notes risks to the outlook, it takes a relatively upbeat stance on the outlook, and considers the risk that current market expectations are too pessimistic. According to HSBC; “Our thesis focuses on how slowing global growth is showing ...
HSBC discusses n length the potential for the Federal Reserve interest rate hikes to trigger a hard landing and recession in the US economy. According to HSBC, instances of this have actually been relatively rare in history. There is a widespread assumption that a slide in the US economy will undermine risk assets and support the dollar. Although H...
HSBC notes that high energy prices have undermined the Euro-Zone trade account. The ECBpolicy of negative interest rates has also been an important element in triggering heavy and sustained selling of Euro-Zone securities which has undermined the capital account
HSBC also notes some tentative evidence that the UK balance of payments position is stabilising. It notes; “The UK’s external balances have been more precarious than the Eurozone’s but again there are early signs that some of these forces may be past their worst.” The overall outlook is still very fragile, but is sees scope for bargain hunting in U...
The yen posted sharp losses in 2022 while the Swiss franc has been resilient with net gains. HSBC expects that there will be a reversal in 2023 with the Yen seen as cheap. It adds; “we expect the JPY’s undervaluation and the CHF’s relative overvaluation to correct significantly through the course of 2023.” The dollar to yen (USD/JPY) exchange rate ...
Jan 5, 2023 · The Pound to Euro exchange rate is forecast to trade at 1.16 by the end of the first quarter, up from the current level of spot at 1.13, ahead of a moderation back to 1.15 by the end of the...
Apr 29, 2022 · The Pound to Dollar exchange rate limped into the end of a torrid April month while carrying its largest one week decline since June 2021 but its descent could yet have further to run, according to...
Jan 21, 2024 · Pound Sterling Forecast: Selling vs Euro Better Value Than Dollar say HSBC. Although FX analysts at HSBC expect the firm Pound Sterling tone against the Euro (GBP/EUR) and US Dollar (GBP/USD) to ...
Sep 7, 2023 · hsbc's Global Head of FX Research, Paul Mackel, predicts a decline in the value of both Euro (EUR) and Pound Sterling (GBP) against the US Dollar (USD) in the coming year.
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