GBP to rally 3% if Brexit deal looks likely – Reuters poll

According to the latest Reuters poll of foreign exchange strategists, the Pound is likely to rally 3% if the Brexit stalemate is resolved and a potential Brexit deal is reached. However, the currency could tumble 5% if negotiations fail.

Additional Findings:

“Another option is that Britain asks for a long delay to Brexit which would prolong the uncertainty. But if it looks like the road out will be extended, the pound will edge up around 1.75 percent.

The wider poll of nearly 70 foreign exchange strategists said the pound would be trading at $1.32 in a month, $1.35 in six months and have strengthened to $1.38 in a year, indicating respondents do not expect a disorderly Brexit.

But highlighting the uncertainty, the 12-month forecast range was wide, going from $1.27 to $1.56.”