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Morgan Stanley: GBP/USD will fall to $1.49
Currency strategists at Morgan Stanley expect the British currency to fall versus the greenback by the end of the year to $1.49.
In their view, last month the demand for pound was high as investors who wanted to escape uncertainty associated with American and European debt problems perceived it as a safe haven. The specialists believe that sterling will become more determined by UK economic situation.
The pair GBP/USD rose from $1.5780 on July 12 to $1.6470 on July 29.