The British pound would sink 9 percent against the dollar in the immediate aftermath of Britons voting to leave the European Union on June 23, a Reuters poll of foreign exchange strategists showed on Thursday.
Conversely, if they decide to remain in the 28-member union then the pound would gain 4 percent on the greenback, the survey of more than 30 currency forecasters taken in the past week found.
When asked in April how sterling would fare, median forecasts suggested it would gain the same 4 percent soon after an ‘In’ vote but would fall 7 percent if Britain voted to leave. Since then the ‘Remain’ camp appears to have gained some traction, which has supported sterling.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Craig Erlam
Latest posts by Craig Erlam (see all)
- XAU/USD – Hawkish Fed commentary pushes gold back below $1,900 - 27 September 2023
- Brent Crude – Oil on the rise again after taking a small breather - 27 September 2023
- Dow – Steady as the dust settles on a massive week of central bank meetings - 27 September 2023