22.09.2016 - Pound’s Fortunes Not So Bad After All to Top Currency Forecaster
The pound’s immediate outlook is not as dire as initially predicted, according to Julius Baer Group Ltd., the top currency forecaster in Bloomberg surveys. The bank increased its year-end sterling forecast to $1.29, little changed versus current levels, from $1.21. It remains bearish longer term, projecting the pound to end 2018 at $1.21. While sterling’s immediate outlook looks relatively calm, the currency will face headwinds next year as negotiations on Britain’s exit from the European Union risk deterring investment into the U.K., the Swiss bank said. The median forecast in a Bloomberg survey of analysts is for the pound to end the year at $1.28...........................................Full Article: Source
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