June 27, 2018 / 10:03 AM / 21 days ago

Sterling could appreciate to $1.42 in 12 months - GS Investment Strategy Group

LONDON (Reuters) - Sterling could appreciate as much as 10 percent within the coming 12 months, Goldman Sachs Investment Strategy Group’s chief investment officer predicted on Wednesday, recommending being long on the currency.

FILE PHOTO: A bank employee counts pound notes at Kasikornbank in Bangkok, Thailand October 12, 2010. REUTERS/Sukree Sukplang/File Photo

The pound, which is currently trading around $1.32, could rise to around $1.41-$1.42, Sharmin Mossavar-Rahmani, CIO of the group, told a briefing.

A Reuters poll of more than 50 foreign exchange strategists conducted in early June predicted that sterling would in six months trade at $1.35 and jump to $1.41 in a year’s time.

Reporting by Marc Jones, writing by Karin Strohecker, editing by Sujata Rao

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