Societe Generale: The UK's fiscal outlook is bleak, and the pound may gradually weaken in the medium term
2025-08-20 13:54:56
Socie ́ te ́ Ge ́ ne ́ rale analyst Kit Juckes said in a report that the pound could weaken in the medium term due to the gloomy UK fiscal outlook. "Higher taxes are coming, economic growth will slow, and sterling will weaken further," he noted. However, he believes the fall in sterling could be gradual. Investors will therefore need to be "very patient" or take advantage of speculators covering short positions to gain a better entry point. Juckes predicts that the EUR/GBP chart support could rise to 0.8700 by the end of the summer and is expected to continue to move higher.
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