The British pound weakened towards $1.34 Monday afternoon, and was holding below a two-and-a-half-year high of $1.3625 reached on December 17th, as investors were slowly acknowledging that the narrow post-Brexit trade deal agreed with the EU was not an optimal agreement for the UK. In addition, the EU did not decide on whether to grant Britain access to the bloc's financial market. Elsewhere, demand for riskier currencies was boosted by fresh fiscal stimulus in the US as President Donald Trump signed into law the $2.3 trillion pandemic stimulus package.
Historically, the British Pound reached an all time high of 2.86 in December of 1957. British Pound - data, forecasts, historical chart - was last updated on December of 2020.
The British Pound is expected to trade at 1.35 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.32 in 12 months time.