Sterling to head lower as Brexit looms
With three months to go, volatility in sterling is set to rise as uncertainty remains pivotal, says CIBC head of G10 FX strategy
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Volatility in sterling is set to increase over the next three months in the run-up to the EU referendum on June 23, says Jeremy Stretch, head of G10 FX strategy at CIBC, which won this week's 12-month forecast tables.
A year ago, with cable trading at 1.49, it was difficult to foresee a referendum, let alone the impact it would have on sterling over the following months. The pair is now trading at 1.42 and continues to head lower.
"Back in March 2015, the prospect of a
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