Absence of strong upside follow-through suggests bullish conviction may be weakening.
CIBC says the U.S. dollar is likely to weaken into the first half of 2026 before stabilising and recovering later in the year, describing its outlook as "U-shaped".
The pound retreats from recent highs against the dollar, but the trend still favours further upside.
The British pound is pulling back against the dollar following a strong year-end lift.
Horizon Currency Ltd
Albany House
14 Shute End
Wokingham
RG40 1BJ Companies House Registration: 11242368
Horizon Currency doesn't take custody of your funds. We execute your payments through FCA-registered companies, which hold your funds in segregated tier-1 bank accounts. These firms are:
1) Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited is authorised by the Financial Conduct Authority to provide payment services (FRN: 671508).
2) Sciopay Limited, registered in England and Wales (registered no. 12352935). Registered Office: WeWork, WW Moor Place Limited, 1 Fore Street Avenue, London, EC2Y 9DTE. Sciopay Ltd is registered with the Financial Conduct Authority (927951).