The British pound gained more than 0.5% against the dollar to hit $1.2566 on Tuesday, having touched its strongest level since May 1st earlier in the session, after the Times newspaper reported the UK will soon indicate its willingness to compromise on fisheries and trade rules if the EU agrees to back off from its "maximalist" demands regarding regulatory alignment and fishing access. A fourth round of trade talks between the UK and the EU starts today and London has until July 1st to ask for an extension to the transition period, which ends in December.
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 June of 2020.
The British Pound is expected to trade at 1.25 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.22 in 12 months time.