According to the latest Reuters poll of nearly 60 foreign exchange strategists, taken April 29-May 2, Sterling2s outlook appears to have lost its shine over the last month amid ongoing Brexit uncertainty and mixed economic data.
Key Findings:
“When asked how low cable would go in the run up to the new divorce date the median response to an extra question was $1.27. Conversely, when asked how high it could trade the median was $1.35. Forecasts ranged from $1.23 to $1.45.
In a month one pound will be worth $1.30, in six months – just when Britain is now due to leave the EU – it will be worth $1.34 and in a year it will get you $1.37.
Forecasts for the same periods in April’s poll were $1.32, $1.35 and $1.38.
Against the common currency the pound will flatline. On Thursday one euro would get you 85.8 pence and median forecasts for one, six and 12 months were steady at 86.0p, slightly weaker for sterling than the across the board 85.0p given last month.”
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