Outlook for the Pound as the Brexit Deadline Approaches
Our long standing view on the pound has been that it is not as cheap as widely perceived despite the fall related to Brexit.
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Currency
Stay up to date on the latest thoughts from our Currency Management Group
Our long standing view on the pound has been that it is not as cheap as widely perceived despite the fall related to Brexit.
A couple of key trends in capital flows suggest the role of euro funding is growing, and we outline the near-term implications for currency markets.
Despite the Swiss National Bank (SNB) continued to characterise the Swiss franc as highly valued, we suggest that any overvaluation may be illusory.
Since the start of 2013, consensus forecasts for the Swedish krona and Norwegian krone have been persistently bullish and persistently wrong.
With current general election polling consistent with a victory for the Conservative Party, the pound has outperformed over the last few months.
We believe the US dollar is currently experiencing a rare structural change in valuation level that means it may be far less overvalued than is widely believed.
We believe a well-designed, tailored approach to using ESG factors for active currency management can be a source of added value for clients over the long term.
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