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"In a few months, the Euro might be stronger than the Pound"The Euro is fast on its way to becoming worth more than the British Pound. According to some of the largest banks, it is only a matter of time before this happens. According to Morgan Stanley, this will occur in the first quarter of next year. The Euro will, compared to its current level, have to gain 12% in value.
HSBC is sticking to its previous prediction that these two currencies will become of equal value this year already. Analyses done by other banks also do not rule out the possibility of the Pound and the Euro becoming equal in value. The Euro has increased more than six percent in value compared to the Pound since the start of 2017. This was due to, among other factors, its attractive economy and speculation that the European Central Bank's support programme will end later in the year. The Pound, on the other hand, has weakened, due to the uncertainty surrounding Brexit negotiations. This is not helping the British economy.
Publication date: 8/18/2017
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