Morgan Stanley analysts expect further GBP depreciation.

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Analysts at Morgan Stanley believe that in a period from now to June 23rd EU referendum the GBP will trade at a discount to where interest rate or stock markets would suggest.

One of the most popular politician Boris Johnson is promoting to leave the EU, which will cause the GBP to stay weak. The year-end estimate for GBP/USD is 1.30.

The pair was trading at 1.3899 as of 6:04 AM EST today. The rate has dropped about 3.5% this week.

mk

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