British pound could fall to as low as S$1.65 amid inflation, recession concerns, say analysts

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…

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