The Pound May Have Fallen But Bulls Are Keeping the Faith
- Investec, Danske Bank expect a Brexit agreement by year-end
- Even with no deal, sterling offers long-term value: ECU Group
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Even in this dark hour, the pound isn’t without allies.
Sterling slumped more than 4 percent in the past three months, spurring a slew of forecast cuts by analysts amid rising risks that the U.K. will tumble out of the European Union without an economic deal. Still, pound bulls are keeping the faith, with Investec Bank Plc estimating that the two sides will reach an agreement by year-end, while ECU Group Plc sees long-term value in the currency.