The British pound is set to rise heading into Brexit but will remain well below the level of $1.5 seen before the 2016 Brexit vote, according to currency strategists polled by Reuters.
Key points (Source: Reuters)
Over 80 percent of strategists polled say sterling will be higher in a year than where it is trading now. Optimists say there’s a lot of bad news – including talk of a “no-deal” Brexit – already priced in.
Sterling is due to edge up more than 2 percent against the dollar in six months – just after the March 29, 2019 date when it is scheduled to leave – to around $1.33.
The GBP is set to climb to $1.37 six months later, according to the poll, taken Sept 28-Oct 3, before Prime Minister Theresa May’s Conservative Party conference speech on Wednesday.
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