LONDON (Reuters) - Japanese bank Nomura said on Monday it expected sterling to reach parity versus the dollar by end-November and then keep on falling, predicting further pain for the battered British currency.
In a research note, Nomura analysts said they expected the pound to hit $0.975 by year-end and $0.95 in the first quarter. It hit a record low of $1.0327 earlier on Monday.
"This is a fundamental balance of payments crisis, with politicians hoping it will eventually just calm down. Hope is not a strategy, and markets are reflecting that," Nomura analysts said.
(Reporting by Dhara Ranasinghe; Editing by Tommy Reggiori Wilkes)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 1.076 USD | +0.29% | +0.33% | - | ||
| 1.254 USD | +0.00% | +0.42% | - | ||
| 0.012 USD | -0.09% | 0.00% | - | ||
| 0.7302 USD | -0.20% | -0.26% | - | ||
| 0.6009 USD | 0.00% | +1.20% | - | ||
| 838 JPY | -1.30% | -1.30% | 611M | ||
| 1,598 JPY | +0.25% | +0.95% | 13.82M | ||
