According to Odaily, UBS Global Wealth Management predicts that the British pound (GBP) is likely to strengthen against the US dollar (USD) for the remainder of the year. This expectation is based on the anticipated rate cuts by the Federal Reserve, which are expected to be more significant than those by the Bank of England. UBS analysts stated in their report, 'Our latest view is that the Federal Reserve will cut rates by 100 basis points by the end of the year, while the Bank of England will only cut rates by 50 basis points during the same period. As a result, fixed income investment flows are increasingly likely to favor GBP/USD moving higher.' They project that the GBP/USD exchange rate could rise to 1.30 by the end of the year.