Foreign exchange analysts at Societe Generale (SocGen) expect the US Dollar to strengthen slightly over the next few months while the Pound Sterling will slip once the Bank of England (BoE) cuts interest rates. The Pound to Dollar exchange rate (GBP/USD) has already retreated to a 5-month low at 1.23 and SocGen expects a retreat to 1.18 at the end of 2024. The bank notes that there is little evidence that the US economy is slowing and, with higher than expected inflation readings, it considers that the chances of a June Fed rate cut are very low. It also considers that the Fed will be reluctant to change interest ... (full story)