UniCredits Sterling forecast fall 12% against Euro
The Dollar Business Bureau UniCredit, a leading European financial group, has slashed its forecasts for Sterling (GBP) saying EUR-GBP should increase substantially by 12 percent, due to several layers of concerns on the upcoming UK-EU relationship. Dr. Vaseileios Gkionakis, Global Head of FX Strategy at UniCredit said he has reduced his GBP forecasts, mentioning the “multiple layers of fear” on the UK relationship with EU in the future. The given fear factor would be enough to send the exchange rate of GBP to USD at 1.20 and EUR and GBP to 0.93 by 2016-end, said Gkionakis. “EUR-GBP should increase considerably, by 12 percent, to a high of 0.93 by the end of 2016 – a 18 percent rise than our earlier forecast of 0.79,” ...
