Pound to drop below the euro - weakened by threat of Labour victory, bank predicts
Hans W Redeker, a foreign exchange strategist with Morgan Grenfell, said that the pound would be coming under “profound selling pressure over the next few quarters”.
Morgan Grenfell, one of the world’s oldest merchant banks which is now owned by Deutsche Bank, has now joined with HSBC Holdings in predicting that the pound will drop below the euro in the near future.
Mr Redeker, while citing several reasons for the continued fall in value of the pound said that a key reason was the possibly of a Labour victory should a general election be called amid the current political uncertainty.
He... read more
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