Pound to gain nearly 4% on hopes for UK-EU trade deal by year-end - Reuters poll

According to a Reuters poll of market strategists, the British pound is expected to rise by almost 4% by the year-end on expectations that a UK-European Union (EU) trade deal will be reached.

Key Findings:

“Median forecasts in the Jan. 31-Feb. 4 poll of 65 strategists showed the pound would be up at $1.31 in a month, $1.32 in six months and then $1.35 in a year’s time.

That is still well below the $1.50 it was trading at before the June 2016 referendum, when Britons voted by 52% to 48% to leave the world’s largest trading bloc.

Trading around 84.9 pence on Tuesday, in one-, six- and 12-months’ time one euro will be worth 85.0p.”