Société Générale: The UK’s fiscal outlook is bleak, and the pound may gradually weaken in the medium term.

[Société Générale: The UK fiscal outlook is bleak, and the pound may gradually weaken in the medium term] Société Générale analyst Kit Juckes stated in a report that due to the bleak fiscal outlook for the UK, the pound may weaken in the medium term. He noted: "Higher taxes are on the way, economic growth will slow, and the pound will further weaken." However, he believes that the decline of the pound may be gradual. Therefore, investors need to be "very patient" or take advantage of the opportunity for speculators to cover short positions to obtain better entry points. Juckes expects that by the end of summer, the chart support level for the euro against the pound may rise to 0.8700 and is expected to continue to rise.