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Pound Surges Ahead of Analyst Forecasts That Predict 2017 Slide

  • Median estimate puts sterling at $1.21 by second quarter 2017
  • ‘Broad dollar appreciation’ seen weakening pound: Millennium
Bloomberg business news

Saxo Bank's Jakobsen: Why I'd Buy the Pound

The pound’s recovery may be getting ahead of itself.

That’s according to the median estimate of economists in a Bloomberg survey, who see sterling dropping about 4 percent to $1.21 by the second quarter of 2017. The pound, which has been buffeted by Britain’s vote to leave the European Union, is currently exceeding forecasters’ estimates for that period by close to the most in three months.