From Pound Sterling Live:
“…As a result, UniCredit say their already bearish GBP forecasts (GBP-USD at 1.28 and EUR-GBP at 0.89 by year-end) “are now subject to deeper Sterling downside risk”. Note that EUR/GBP at 0.89 equates into a Pound to Euro exchange rate at 1.1236.
UniCredit see a fairly good chance that EUR-GBP rises to 0.90 rather swiftly and potentially towards 0.95. In Pound to Euro exchange rate terms this equates to 1.11 and 1.0526. Pre-election rate spreads suggested that Pound Sterling was actually looking expensive against the Euro.”
A great opportunity to buy (more) great Scotch (malt) whisky … thanks to the English?!
What a strange world!