External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

FX & Rates

<ul><li>We remain bullish GBP and see no reason to make changes to our longer-term forecast targeting 1.40 by year-end 2025 and 1.48 by year-end 2026.</li><li>We see Wednesday’s political turbulence as a short-lived event with no lasting impact, given PM Starmer’s expression of continued support for Chancellor Reeves as both the PM and Chancellor seek to reinforce their commitment to fiscal responsibility in the UK.</li><li>The pound fell 0.8% on Wednesday, pressured by renewed fears about the UK’s fiscal situation as market participants considered the prospect of a possible change in leadership at HM Treasury. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We remain bullish GBP and see no reason to make changes to our longer-term forecast targeting 1.40 by year-end 2025 and 1.48 by year-end 2026.We see Wednesday’s political turbulence as a short-lived event with no lasting impact, given PM Starmer’s expression of continued support for Chancellor Reeves as both the PM and Chancellor seek to reinforce their commitment to fiscal responsibility in the UK.The pound fell 0.8% on Wednesday, pressured by renewed fears about the UK’s fiscal situation as market participants considered the prospect of a possible change in leadership at HM Treasury. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Snapshot - Remain Bullish GBP Despite Latest Political Troubles