01:37 PM
Thursday, March 23, 2023
I wrote – Manal Al-Masry:
A report issued by the HSBC Group – one of the largest international banks – raised its expectations for the price of the dollar once morest the pound, to reach between 35-40 pounds in the medium term.
The bank expected last January that the dollar would rise during the current year to between 30-35 pounds, but the urgent challenges facing the Egyptian economy prompted it to adjust its expectations, according to the report issued yesterday, Wednesday, under the title “3 Big Barriers that Must Be Removed,” which Masrawy viewed.
The bank said that it expects the average price of the dollar to reach (37.5) pounds during the year instead of the average price of (32.5) pounds in its previous expectations in January.
During the current week, dollar futures contracts rose for 12 months, to exceed 40 pounds per dollar, at a historical level, according to Bloomberg Index data.
Read also:
The dollar exceeded 40 pounds in forward contracts.. What are the reasons and does it affect the exchange market?
