Sterling to stay under pressure – CIBC
GBP/USD expected to trade at 1.27 in Q3 and 1.32 by 1H 2018
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Significant headwinds await sterling as the UK enters Brexit negotiations with the European Union on its future outside the bloc, according to Jeremy Stretch, head of G10 FX strategy at CIBC.
“We are very mindful the risks to sterling are still generally to the downside. There is a big question mark regarding the ability of the UK consumer sector to maintain the rate of spending in the context of falling real wages,” he says.
“Against the US dollar, the analysis
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