GBP/USD to rise to 1.2500 in six months – Reuters poll

The yearly forecasts for the British pound are revised downward from a month ago due to the coronavirus pandemic, as revealed by the latest Reuters poll.

Key findings

“Cable will be at $1.22 in a month, but then strengthen to $1.25 in six months and by 4% to about $1.29 in a year, according to the median estimate of over 50 foreign exchange specialists polled March 27-April 2.

The 12-month forecast range was wide - highlighting the uncertainty - from as low as $1.13 to a high of $1.41.

Against the euro, sterling will fare worse than was expected last month. On Thursday, one euro would get you about 88 pence and the poll suggested it would be worth 90p in one and six months, and then 88p again in a year.”