Pound May Turn Into Unlikely Winner From Europe’s Virus Troubles
- Standard Bank sees sterling regaining strength versus euro
- Virus may push back trade deadline or see U.K. benefit: Barrow
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The coronavirus has blown Brexit out of the headlines, and for pound traders that may be a silver lining.
Sterling will strengthen to 80 pence per euro -- a level not reached since the 2016 vote to leave the European Union -- and possibly beyond, according to Standard Bank. The pandemic means that the deadline for a trade deal this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K., it said.