British pound could fall to as low as S$1.65 amid inflation, recession concerns, say analysts
Add BT as a preferred source
Yong Jun Yuan
DeeperDive is a beta AI feature. Refer to full articles for the facts.
INFLATION and the possibility of a recession in the United Kingdom are expected to weigh on the British pound, market watchers said, potentially pushing it as low as S$1.65 this year.
The pound fell sharply after the Bank of England (BOE) on Thursday (May 5) hiked interest rates by 25 basis points to 1 per cent, a 13-year high, and its fourth hike in a row.
The GBP/SGD rate fell from roughly 1.73 at 6 pm on Thursday to nearly 1.70 at 4.30 am on Friday. It had recovered slightly to roughly 1.71 as at 5.30 pm on Friday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
