BLBG: Pound Expected to Strengthen to $1.4600, BNP Paribas Says
The pound will probably strengthen to $1.4600 after crossing through $1.4170, according to BNP Paribas SA.
“We remain sterling bullish,” BNP Paribas strategists including Ian Stannard in London said in a report today. “Commodity producers and banks are the most important components of the FTSE, suggesting this index will outperform.”
The pound was at $1.4144 as of 10:37 a.m. in London after rising as high as $1.4242.
The euro may weaken against the pound to 91 pence, BNP Paribas also said, compared with 93.63 pence per euro today.
