Find Us

Nomura expects sterling to hit parity by end-November, $0.975 by year-end

Wall St slides, dollar gains on sterling and yen
Wall St slides, dollar gains on sterling and yen Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
Share this articleComments
Share this articleClose Button

LONDON - Japanese bank Nomura said on Monday it expected sterling to reach parity versus the dollar by end-November and then keep on falling, predicting further pain for the battered British currency.

In a research note, Nomura analysts said they expected the pound to hit $0.975 by year-end and $0.95 in the first quarter. It hit a record low of $1.0327 earlier on Monday.

"This is a fundamental balance of payments crisis, with politicians hoping it will eventually just calm down. Hope is not a strategy, and markets are reflecting that," Nomura analysts said.

Share this articleComments

You might also like