The British pound traded around $1.39, not far from a two-and-a-half-month low of $1.3737 hit on July 2nd, amid concerns about the spread of the highly contagious Delta variant of COVID-19. Still, UK Prime Minister Boris Johnson announced last week plans to remove remaining coronavirus restrictions affecting England on July 19th, with face masks being made voluntary in all settings and the government's working from home advice being dropped. In June, sterling lost 2.8% against the greenback, suffering its worst month since September, as a dovish stance from the Bank of England contrasted with US Federal Reserve's surprise hawkish shift. However, prospects of a solid economic recovery in the UK, helped by upbeat economic data, provided some support.
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 July of 2021.
The British Pound is expected to trade at 1.38 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.36 in 12 months time.