A hefty exchange rate forecast! Standard Chartered see the pound euro rate at 1.5 in 2016
Written by Will Peters Wednesday, 11 April 2012 13:50
Another foreign exchange forecast of note has been made this morning. (Near term exchange rate forecasts are available on International Money Transfer, via our Facebook access page).
This time Standard Chartered have really gone out on a limb by calling the pound to euro in 2016.
Analysts at the bank have suggested the exchange rate will surge higher to 1.5.
Looking at the near-term exchange rate forecasts Standard Chartered have the euro pound at 0.8 in one years time (second quarter 2013). In pound euro terms this is 1.25.
For the short term, the general trend for this currency pair is one of strength based on the outperformance of the UK economy when compared to Eurozone peers.
The bank says:
""We recommend Neutral FX weightings near-term on the GBP given offsetting fundamental factors – on the positive side much better valuation and fiscal credibility, on the negative side recession and the risk of a downgrade."
Near-term downside risks to the GBP remain including technical recession, negative real interest rates and the ratings outlook.
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