LONDON (Reuters) - Britain's pound is still 18% above its "fair value" and the euro 11.6% above its fair value despite the sharp falls seen by both currencies this year, the Institute of International Finance estimated on Thursday.
"Although the Euro and the British Pound have already fallen substantially, we estimate that they will need to fall further in order to converge to their new fair values," the IIF's Robin Brooks said commenting on its latest FX fair value estimates.
(Reporting by Marc Jones; editing by Danilo Masoni)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 0.8574 GBX | -0.02% | +0.19% | - | ||
| 0.9311 EUR | -0.13% | -0.93% | - | ||
| 0.6095 EUR | +0.28% | +1.03% | - | ||
| 1.166 EUR | +0.02% | -0.18% | - | ||
| 0.0112 EUR | -0.08% | 0.00% | - | ||
| 0.5226 GBX | +0.26% | +1.20% | - | ||
| 0.5851 GBX | -0.06% | +0.17% | - | ||
| 0.009596 GBX | -0.08% | 0.00% | - | ||
| 0.6823 EUR | -0.04% | -0.01% | - | ||
| 0.7984 GBX | -0.15% | -0.75% | - | ||
