The war in Ukraine, ongoing repercussions from the pandemic, high inflation and more are inciting fears that a recession could happen in the UK and globally. On top of this, the imminent introduction of a new UK Prime Minister adds an extra layer of uncertainty to the economic and political outlook.
As ever, this uncertainty at home and abroad is reflected in the currency markets. It is, therefore, impossible to predict where the pound, euro, dollar and other currencies will move next. The latest quarterly forecast from WLB member Smart Currency Business looks at how past currency predictions have fared against reality – it’s said that currency movements are unpredictable, but how accurate have forecasts actually been?