Sterling Vulnerable to Dollar Path – SocGen

Kit Juckes of Societe Generale notes that the recent political shift in the UK has had only a modest impact on Sterling weakness. The analyst sees EUR/GBP moving one to two percentage points higher, while GBP/USD is likely to test the 1.30 level.

These projections suggest continued vulnerability for the British pound, particularly against the US dollar. The assessment comes amid ongoing market focus on currency dynamics following the UK election.

No specific timeline was provided for these moves, nor was there mention of additional factors beyond the political change and general dollar strength.