Room for further cable gains, Wells Fargo says

US bank sees GBP/USD trading at $1.37 in three months' time and at $1.41 in 12 months

Going up: Wells Fargo expects Bank of England to continue raising interest rates, albeit gradually and on a limited basis


Sterling is expected to continue making gains against the US dollar in the first part of 2018, but the upward path may become occasionally uneven as Brexit negotiations resume, according to Erik Nelson, a currency strategist at Wells Fargo.

“We have a positive view on the pound and expect it to gain against the US dollar over the medium term. Brexit negotiations have thus far shown progress on key parameters of UK exit terms, with trade discussions set to begin

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