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Sterling will rally 5% to 1.32 in 12 months, according to strategists polled by Reuters, with many expecting the British currency to trade in $1.30-$1.36 range in the month following a soft Brexit – the UK leaves the European union with a deal.  

Notably, strategists have revised lower their 12-month forecast from $1.34 (in June) to $1.32.  

The latest poll also shows the British Pound is forecasted to trade in $1.17-$1.25 range in the month following a hard Brexit.