 Bank of America Global Research discusses GBP outlook and targets GBPUSD at 1.12 and EURGBP at 0.89 by the end of Q1.The UK asset markets have been reassured by the UK Budget and the overall approach of the new UK PM and Chancellor. Nevertheless, investors remain very skeptical toward the UK economys prospects and GBP as a result, BofA notes. To a large extent, we understand: our economists expect a recession in the UK, forecasting the largest real disposable income dr... 