The British pound weakened below $1.30 on Wednesday, amid concerns about a resurgence in COVID-19 across Europe and a lack of progress on a Brexit deal. French President Emmanuel Macron is expected to announce tonight a national coronavirus lockdown, while German Chancellor Merkel is proposing some form of a light lockdown which would see the closure of bars, fitness studios, discos and cinemas, while restaurants will be only allowed to offer takeaways. Meanwhile, investors hope that some kind of free trade agreement between the UK and the EU can be secured, after talks have been extended until today.
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 October of 2020.
The British Pound is expected to trade at 1.30 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.27 in 12 months time.