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Expect lower cable by year-end (30 May) - Societe Generale

FXstreet.com (Barcelona) - Societe Generale Strategists are bearish GBP/USD, seeing it at 1.40 by end-2013, consistent with their broadly strong USD call.

They write, “Apart from the matter of Fed exit, we expect the BOE to attempt to ease monetary policy further through "forward guidance" after Carney replaces King in July. A lower inflation profile provides greater scope for the BOE to ease further to support the still-tentative economic recovery.”

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