Buy GBPINR; target of : 105.20 : December 08, 2023: ICICI Direct

ICICI Direct, Pound is likely to move back towards 1.2650 level on weakness in dollar.

ICICI Direct’s currency report on GBPINR

Pound is likely to move back towards 1.2650 level on weakness in dollar. Further, investors anticipate that the first cut from the BoE might not happen until June, compared with March for both the ECB and US Fed. Meanwhile, market will remain cautious ahead of US job report to get more clarity on interest rate trajectory. GBPINR is likely to move higher towards 105.20 level as long as it stays above 104.65 levels

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08122023 – curre