Morgan Stanley says Brexit-related turbulence will push the pound lower this year before it hits parity with the euro in the first quarter of 2018.Currently 1.0968:1as the BBC asks "Why is the pound so low against the euro?"
It adds a strengthening eurozone will contrast with softening data out of the UK, the Financial Times reports.
It predicts the euro will trade at £1.02 by the end of Q1.
The weaker UK economy will be driven by “unsustainable” household spending funded by unsecured lending, negative real wage growth and lacklustre productivity growth, the bank says....
Friday, August 11, 2017
"Morgan Stanley predicts euro-sterling parity in 2018"
From Fund Strategy: