# GBP/USD: Target at 1.3500 by October, unchanged -  CitiBank - Forex Crunch

> Citibank kept its GBP/USD target at 1.3500 by October, citing resilient UK data and fiscal and monetary stimulus. The note said the Fed's shift to flexible average inflation targeting weighed on the dollar, which rebounded only briefly.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/51864-gbp-usd-target-at-1-3500-by-october-unchanged-citibank-forex-crunch
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker dollar and firmer sterling is a macro backdrop that supports dollar-denominated commodity prices. The direct effect on feed markets is modest.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-02-28 | [EUR/USD: Central banks to favor the euro - Forex Crunch](https://feedsoft.ai/events/54804-eur-usd-central-banks-to-favor-the-euro-forex-crunch.md) | -0.5% | +4.3% |
| DXY | 2020-10-09 | [USD/CNY catch-up may have more to go - MUFG - Forex Crunch](https://feedsoft.ai/events/5560-usd-cny-catch-up-may-have-more-to-go-mufg-forex-crunch.md) | -0.3% | -1.9% |
| DXY | 2017-01-31 | [Trump Trouble: USD/JPY remains on the back foot - Forex Crunch](https://feedsoft.ai/events/73229-trump-trouble-usd-jpy-remains-on-the-back-foot-forex-crunch.md) | -0.6% | -0.6% |
| DXY | 2020-08-28 | [USD: Fed has set up the dollar for further weakness - MUFG - Forex Crunch](https://feedsoft.ai/events/51792-usd-fed-has-set-up-the-dollar-for-further-weakness-mufg-forex-crunch.md) | -0.5% | +1.0% |
| DXY | 2018-09-30 | [DXY to come off: we like to buy into any dip below 1.1550 in EUR/USD - Nordea - Forex Crunch](https://feedsoft.ai/events/63254-dxy-to-come-off-we-like-to-buy-into-any-dip-below-1-1550-in-eur-usd-nordea.md) | +0.7% | +1.8% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/08/31/gbp-usd-target-at-1-3500-by-october-unchanged-citibank/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.