This via the folks at eFX.
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Goldman Sachs maintains a bearish bias on GBP/USD into year-end.
- "This week will present a further test for Sterling, as the Bank's temporary purchase program expires and policymakers seem likely to signal that at least for now they still expect to begin winding down the balance sheet at the end of the month," GS notes.
- "Overall, we think the temporary Sterling strength was mostly due to some aggressive, short-term Sterling demand, while over the next few months macro fundamentals and a difficult policy mix are likely to lead the Pound back to the lows. We maintain our 3m GBP/USD forecast of 1.05," GS adds.
