‘Pound will rise against all G-10 peers this year’ | 2019-01-23

‘Pound will rise against all G-10 peers this year’

22nd January, 2019 10:47:33 printer

LONDON: The pound may advance against all its Group-of-10 peers this year as the risk of a no-deal Brexit has been declining, according to Goldman Sachs Group Inc.

Sterling has strengthened for five straight weeks as the defeat of Prime Minister Theresa May’s Brexit plan last Tuesday was seen boosting the prospects of a second referendum that may result in the UK staying in the European Union. The premier is expected to present a new proposal to Parliament Monday, report agencies.

“We would read the developments over the last week as pointing toward a later, softer Brexit or potentially no Brexit at all,” Zach Pandl, co-head of global currency and emerging-market strategy at Goldman Sachs, said in an interview on Bloomberg Television.