Expect more sterling weakness – BMO Capital Markets
Cable may drop to 1.28 in the coming six months, as political uncertainty remains after the referendum
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Sterling is expected to weaken against the dollar for the rest of the year, as political uncertainty since the UK's vote to leave the European Union will continue to dominate foreign exchange movements, says BMO Capital Markets, which topped last week's currency forecast tables.
Stephen Gallo, European head of FX strategy at BMO Capital Markets, expects the pound to fall as low as $1.28 before the end of this year, from the $1.33 levels that cable hovered around a week
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