Survey predicts future direction of sterling
2 April 2008 17:02
The value of sterling will stay below $2 for the next year, it has been claimed.
According to the results of a recent poll by Reuters, the survey of 60 analysts has identified the expectation that the value of sterling in one month's time will reach a level of $1.99 and a level of $1.90 in 12 months.
"The domestic slowdown will require lower interest rates sooner rather than later. Policymakers have indicated that the pound may have to fall further to help in the rebalancing of the UK economy," said Shaun Osborne, a representative from TD Securities, in a report by the Guardian.
The poll also found that, in three months time, analysts expect the value of sterling to be at a rate of $1.98.
Presently, in the UK interest rates are set at 5.25 per cent.
TD Securities is a Canada-based firm specialising in the provision of capital market services and advice.
According to the results of a recent poll by Reuters, the survey of 60 analysts has identified the expectation that the value of sterling in one month's time will reach a level of $1.99 and a level of $1.90 in 12 months.
"The domestic slowdown will require lower interest rates sooner rather than later. Policymakers have indicated that the pound may have to fall further to help in the rebalancing of the UK economy," said Shaun Osborne, a representative from TD Securities, in a report by the Guardian.
The poll also found that, in three months time, analysts expect the value of sterling to be at a rate of $1.98.
Presently, in the UK interest rates are set at 5.25 per cent.
TD Securities is a Canada-based firm specialising in the provision of capital market services and advice.
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