Morgan Stanley Bets on Post-Brexit Pound High in 2026
Sterling is already up more than 7% against a broadly weaker dollar this year.
Photographer: Miles Willis/BloombergMorgan Stanley is betting that the pound will rally after the UK’s November budget to hit a decade-high next year.
The US bank recommends investors take advantage of any dip before Chancellor Rachel Reeves lays out her fiscal plans on Nov. 26, to load up on a long position. It expects the currency to climb from below $1.35 now to $1.45 by mid-2026 — a level last seen before 2016’s Brexit vote.