Pound Forecasters More Pessimistic Than Ever as Brexit Bites
- Biggest bear Credit Suisse says sterling has further to fall
- Currency tumbles as EU’s Tusk rules out pre-negotiations
Deutsche Bank's Ruskin: Pound Could Go Into Free Fall
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Pound forecasters are more bearish than they’ve ever been about the U.K. currency’s year-end prospects.
While the $1.25 median estimate in a Bloomberg survey is about 2 percent higher than current sterling levels, that reflects how difficult it’s been for strategists to keep pace with the pound’s slide since the Brexit vote, rather than optimism about a bounce. In an example of the political noise the currency has to deal with, sterling tumbled on Thursday after European Union President Donald Tusk -- who’s taken a hardline stance toward the U.K. in the past -- said there’ll be no pre-negotiations before Britain triggers its exit.