Report: GBP may be USD1.25 by end of this month - ANALYSIS

Report: GBP may be USD1.25 by end of this month - ANALYSIS GBP still ‘resist’ against US currency
Analytics
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November 1, 2018 16:13
Report: GBP may be USD1.25 by end of this month - ANALYSIS

Baku. 1 November. REPORT.AZ/ US dollar went up slightly against euro in October.

Report’s analytical group thinks that USD/EUR rate was 1.13 at the end of October against  1.16 in the beginning.

The reason is clear. The US Federal Reserve System increased the interest rates and USD went up. ECB keeps interest rates unchanged. On the other hand, there are problems such as budget deficit in Italy, which plays a leading role in the economy of the continent, and inflation in Germany. Amid ‘negative news’, the exchange rate of the European currency against USD falls. If this tendency continues, EUR may be $1.1 at the end of this month.

Last month the dollar also consolidated to GBP. The USD/GBP rate was 1.28 at the end of October, while it made 1.3 in the beginning.

Report’s analytical group believe that GBP depreciation mainly stems from Brexit-related situation. For the present, the GBP still resists against dollar. If there are positive news about Brexit and if ECB makes decisions in favor of GBP (for instance, increasing interest rates), the USD/GBP rate may exceed 1.3, even reach 1.33 by the end of this month. Otherwise, GBP may fall to $1.25. 

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