According to UBS, the AUD should be Supported, the GBP should be the Worst-Performing Currency

EnclaveFX Ltd
Jan 24, 2023

Swiss Franc, British Pound, and Australian Dollar forecasts are updated by UBS economists.

Still-high inflation and weak growth outlook weigh on the Sterling

Despite strong gains versus the US Dollar, we move the Swiss Franc down to Neutral. However, we remain confident the Swiss National Bank will preserve Franc's strength to limit imported inflation, and that safe-haven flows will support the Franc."

We maintain our Least Preferred view on the Sterling due to the weak growth outlook and still high inflation in the UK."

The Australian Dollar should be supported by China's reopening, relatively strong domestic economic growth, and a central bank that is likely to keep the reins tight when the Federal Reserve begins to ease monetary policy."


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