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Forex Flash: GBP/USD year-end target at 1.45 – Scotiabank

The sterling has managed to carve a rebound from almost 3-year lows below the key level at 1.5000 to the current levels in the 1.5030/35 region, after hopeful comments by US President Barack Obama on the so-called US ‘sequester’.

After today’s horrible manufacturing PMI print in the UK economy, Camilla Sutton, Chief Currency Strategist at Scotiabank, commented, “The outlook for GBP continues to deteriorate from an economic, monetary and currency perspective. We expect the BoE to turn increasingly aggressive and accordingly have revised down our GBP forecast. We expect GBP to close the year at 1.45”.

Forex: EUR/USD back above 1.3000 on Obama comments

“We will get through this, will not be an ‘Apocalypse’”. Those were the words US President Barack Obama used to partly alleviate the ‘sequester’ burden, and the excuse that risk-related assets found to halt the....
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Obama: US will get through the sequester

Sequester is "a series of dumb, arbitrary cuts", said President Barack Obama after a meeting with congressional leaders at the White House, and with no last-minute deal to eliminate the sequester. He warned about the effects on the US economy and its citizens, saying the longer it goes on, "the greater the damage to our economy".
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