The British pound weakened towards $1.37 on Friday, having touched its lowest level since February 5th earlier in the session, as investors fear that the slowing pace of the COVID vaccinations in the UK could delay the government’s plans to reopen the economy, despite Prime Minister Boris Johnson's recent confirmation that the "stage two" of lifting lockdown would take place next week. The PM has also announced early this week the launch of a new mass testing programme, aiming to help health officials to track the pandemic. Sterling hit a three-year high of $1.41 in late February, at the time making it the best performing G10 currency, supported by expectations that Britain’s economy would reopen quickly after its rapid vaccine rollout.
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 April of 2021.
The British Pound is expected to trade at 1.36 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.33 in 12 months time.