Sell GBPINR; target of : 104.80 : December 21, 2023: ICICI Direct

ICICI Direct, Pound is likely to slip towards 1.2580 level as UK CPI data showed inflation eased in November, prompting market to bring forward their expectations of BOE rate cuts.

December 21, 2023 / 10:15 IST

Rupee

ICICI Direct's currency report on GBPINR

Pound is likely to slip towards 1.2580 level as UK CPI data showed inflation eased in November, prompting market to bring forward their expectations of BOE rate cuts. Additionally, risk aversion in the global markets will weigh on sterling. GBPINR is likely to move south towards 104.80 level as long as it stays below 105.40 levels.

For all Currency report, click here

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21122023 - curre

first published: Dec 21, 2023 10:05 am

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