Brexit Deal Seen Erasing Pound’s Virus-Induced Loss. That’s All
- Currency strategists see 55% chance of trade agreement in 2020
- That would lift pound 4.4%, versus 5.6% slide if no deal: poll
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The pound’s likely boost from a Brexit trade agreement this year will only just about help it recover from the damage inflicted by the pandemic, a Bloomberg survey found.
A deal between the U.K. and European Union after testy negotiations is the base case that would drive sterling up 4.4% to above $1.30, according to the poll of 26 market strategists. That’s the level the currency was at in March before the coronavirus locked down London, the world’s largest foreign-exchange trading hub.