HSBC Bucks Pound Gloom With Call for 13% Rally by End of Year
- Bank raises its sterling forecast to $1.60 from $1.50
- Base scenario is for Britain to remain within EU: HSBC
This article is for subscribers only.
Britain’s biggest bank is calling for the pound to rally.
As sterling languishes at its lowest level since 2009, hurt by everything from a dovish Bank of England to the risks of an exit from the European Union, HSBC Holdings Plc boosted its year-end forecast for the beleaguered currency to $1.60 from $1.50 previously.