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Morgan Stanley advised clients to buy sterling, forecasting double-digit upside against the dollar before year end and around 3% against the euro. The bank expects a softer Brexit and Bank of England rate hikes to push the pound higher.
The forecast depends on resolution of the Brexit process in parliament.
A stronger pound would be a currency move with limited direct impact on feed commodity prices. It is a bank forecast rather than a new supply or demand event.
poundsterlinglive.comJames SkinnerMar 28, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
