March 13, 2019 / 11:37 AM / 13 days ago

Sterling to rise towards 80 pence per euro on 'more benign' Brexit outcome - GS

LONDON (Reuters) - Sterling still trades at a 5 percent discount versus the euro because of a Brexit-related premium, but a more “benign” Brexit outcome would see that erased as the currency jumped higher, Goldman Sachs analysts said on Wednesday.

The U.S. investment bank said in a note to clients that euro/sterling could rise towards the “low-80s” or near 80 pence per euro if Britain leaves the European Union but retains close ties. The pound currently trades at 85.885 pence per euro.

Reporting by Tommy Reggiori Wilkes, Editing by Helen Reid

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