Pound Forecasts Soar as BOE’s Carney Signals Shift: Currencies
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Strategists are raising their forecasts for the pound more than for any other currency versus the euro on speculation an improving U.K. economy is making the central bank more tolerant of a stronger exchange rate.
The median of more than 60 analyst estimates in a Bloomberg survey is for the pound to end the first quarter of 2014 at 83 pence per euro, 1.2 percent stronger than their outlook when Bank of England Governor Mark Carney started on July 1 and up from 85.73 today. That’s the biggest gain among 12 currencies tracked versus the euro.