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Sterling's stellar surge is over, say FX dealers - Reuters poll [Reuters]

S & P GLOBAL INC (SPGI)  More Company Research Source: Reuters
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PDF Sterling's stellar surge is over, say FX dealers - Reuters poll | Reuters 4 Min Read LONDON (Reuters) - Sterling’s big rise this year - including its strongest monthly rally since 2009 in January - is over, and concerns over Brexit will start weighing the currency down again, a Reuters poll of market strategists showed on Thursday. The pound is down around 10.5 percent on a trade-weighted basis since the June 2016 referendum when Britain voted to leave the European Union. But it is up about 6.5 percent from the low point it reached in October 2016. Compared with equity markets, currencies have remained relatively calm in the last few days. Although sterling fell for the fourth straight day on Wednesday, it was still trading around $1.39. Only one strategist polled last month had anything higher than $1.38 for their one-month forecast. But as in other recent monthly Reuters polls, the pound is expected to move little over the forecast horizon. It will trade at $1.40 in a month, $1.39 i [Read more]

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