The British pound changed hands at $1.372 on Monday, not far from the three-year high of $1.3759 it reached on Wednesday last week, supported by progress in rolling out vaccines after official data showed that nearly 9 million people in the UK have been given their first dose of a Covid-19 vaccine. On the monetary policy front, the Bank of England is likely to stand pat on monetary policy when it meets on Thursday, with traders turning to the latest economic projections and a press conference by Governor Andrew Bailey, along with new findings into the impact of negative rates on the banking sector.
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 February of 2021.
The British Pound is expected to trade at 1.37 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.34 in 12 months time.