MUFG had previously been forecasting Cable to 1.31 on a 12-month horizon.
Analysts at the bank say they’ve become less bullish.
MUFG had dragged forward their expectation for a Bank of England interest rate cut to June, from August previously. MUFG cited comments from Bank of England Governor Bailey.
This article was written by Eamonn Sheridan at www.forexlive.com. Source