The British pound continued its downward momentum falling to almost $1.14, the lowest level since 1985, pressured by a challenging economic outlook due to high energy bills and soaring inflation which squeezed households' purchasing power. At the same time, a stronger dollar prompted by tight monetary policy from the Fed also weighed. Meanwhile, political uncertainty eased after Liz Truss won the race for the Conservative Party leadership and became new Britain’s prime minister but has not provided any respite to the markets. The new government is expected to unveil an energy rescue plan on Thursday, with measures worth £200 billion to tackle soaring energy costs.
Historically, the British Pound reached an all time high of 2.86 in December of 1957. British Pound - data, forecasts, historical chart - was last updated on September of 2022.
The British Pound is expected to trade at 1.14 by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.09 in 12 months time.