The bearish sterling view of strategists at TD Securities is particularly concentrated over the next few months.
Key quotes
“We think GBP is likely to have a better second half of 2020 once more visibility emerges on the UK/EU relationship and global growth prospects begin to stabilize.”
“We maintain our current forecast for GBP/USD to finish this year around 1.26.”
“We are inclined to think that sterling may not suffer quite as badly as it has in previous flare ups if Brexit risks do resurface as we expect.”
“At this stage, a harsh No-Deal outcome will undoubtedly slow the UK’s recovery even further. It will not, however, prevent the great harm that is already underway.”
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