GBP to $1.06 by year-end on Brexit - Deutsche Bank - RTRS
|According to the latest report by Deutsche Bank, Sterling will fall sharply this year to as low as $1.06 against the dollar, as the process of Britain leaving the European Union damages UK growth.
Key quotes (via Reuters)
- GBP could fall towards parity with the euro
- That would represent a fall of around 15 percent against both the dollar and euro
- We do not see sterling (currently) fully pricing a hard Brexit outcome
- Combined with limited adjustment in the UK's current account deficit and slowing growth, we see further downside and forecast $1.06 in by year-end
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