Despite a strong showing over the course of the week ending 26th August, GBP is forecast to record further declines against the US Dollar over coming months, while also continuing to struggle against the EUR.
"We anticipate that Yellen's speech will outline the rationale for taking another step in the policy normalisation process, but will also discuss the broader ramifications of a potentially lower equilibrium real rate.
The British pound dipped below $1.30 (U.S.) on Tuesday - and the sagging currency is projected to fall further. The pound's recent weakness comes amid dovish comments from the Bank of England, which cut rates last week, and soft economic data.
The pound's outperformance after stronger-than-expected July retail sales may not last and sentiment remains fragile on U.K.'s vote to leave the EU, analysts say. British equities resumed their declines, with a broad gauge of the nation's shares poised ...
Speculative net shorts against British pound futures BPU6, -0.21% rose to a fresh all-time high of $7.3 billion in the week ended Tuesday, according to data from the Commodity Futures Trading Commission, which were released late Friday.