Banking giant HSBC has admitted “defeat” on its prediction that the pound will drop to $1.20 against the dollar by the end of the year.
The pound has jumped up to its highest level against the dollar since the Brexit vote after a Bank of England (BoE) policymaker signalled a rate rise in the coming months.
For the first time in its 18-year history, the euro will be one-for-one versus Britain’s pound by early next year, according to the US investment bank Morgan Stanley.
One year after the Brexit vote, money transfer customers in the UK have demonstrated long-term resilience despite the devaluation of the pound, according to report published by Small World FS today.
Sterling jumped nearly one percent to a three-week high on Wednesday after Mark Carney, governor of the Bank of England (BoE), suggested that interest rates could rise.
Sterling had an annus horribilis in 2016, but so far 2017 has heralded something of a comeback.
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