Brexit BOOM: Pound will be one of the BEST performing currencies next YEAR, expert says
THE POUND will be one of the best performing currencies next year according to Thanos Vamvakidis, global head of G10 FX strategy at Bank of America Merrill Lynch.
Economist predicts STRONG next year for pound sterling
Mr Vamvakidis said the pound could rise even further and that it could be one of the best performing currencies next year.
Speaking to CNBC, he said: “Actually I think sterling can appreciate even further.”
“The market position is flat after being shorter earlier this year, as you said, this is a good kick of the can down the road.”
“Uncertainty remains but most of it becomes irrelevant after two or three years from now this is positive for markets.”
Brexit news: Pound will be one of the best performing currencies next year, Vamvakidis said
The pound soared after Theresa May and Jean-Claude Juncker reached a Brexit deal, climbing to the highest for six months.
“The debt in the UK has been good given the uncertainty that will remain, most likely supportive.
“The Bank of England is likely to hike again.
“So from this point of view sterling may be on of the best performing currencies next year.
Finance expert: Pound has increased after Brexit deal
The value of sterling has been closely linked to Brexit negotiations since June 2016, when a UK majority voted in favour of leaving the EU.
The pound rose against all its major peers after European Commission President Jean-Claude Juncker said sufficient progress had been made for the U.K. and the EU to begin discussing the future relationship.
Negotiators have now published the full text of the agreement, which Mrs May said her DUP partners had agreed to back after "significant improvements" were made.
Mr Juncker said: "Prime Minister May has assured me that it has the backing of the UK Government. The Commission has just formally decided to recommend to the European Council that sufficient progress has been made on the terms of the divorce.