UBS Group Global Wealth Management Analysts stated in a report that concerns over rising borrowing costs in the United Kingdom could keep the British Pound under pressure in the short term, but it might recover later this year. They noted, 'Compared to other central banks, the Bank of England may take a more cautious stance on interest rate cuts, coupled with the eventual easing of the overvaluation of the US Dollar, which will still support the GBP/USD to rebound to 1.34 by the end of the year.'