BBVA forecasts sterling relief in November
Fluctuations and volatility in the currency are to be expected, says Spanish bank
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Sterling could see a relief rally in November if the UK and the European Union reach a compromise on Brexit, especially if positive news arrives in a market that is positioned for further bad revelations, says Alexandre Dolci, a G10 FX strategist at BBVA.
Between now and then, however, the pound is set for a continuation of its recent bumpy ride, as the possibility of a no-deal Brexit looms.
Dolci’s base-case scenario holds that the divorcing countries will
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Sterling’s future is still very dependent on Brexit-related developments, the bank says
