CBA: GBP/USD soars to $1.81 in 2015
Strategists at Commonwealth Bank of Australia (CBA) now expect the Bank of England to start raising interest rates in February 2015 versus the previous forecast in Q2 2015.
As a result, the bank revised up its GBP/USD forecast. Q3 forecast was revised up from $1.67 to $1.73, Q4 forecast - from $1.67 to $1.74. Cable is expected to trade at $1.78 (prior $1.67) by the end of the first half of the year 2015 and at $1.81 (prior $1.67) by the end of the year 2015.