Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline.
The currency fell by around 0.7% against the U.S. dollar on Monday morning as the U.K. and the European Union enter a critical week of negotiations, with both parties looking to hammer out a Brexit deal before the end of the month.
Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday's substantial rally upon hopes of a Brexit deal, sterling likely has "further to run," and retained the $1.30 price target initially set on October 4. In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday's substantial rally upon hopes of a Brexit deal, sterling likely has "further to run," and retained the $1.30 price target initially set on October 4.
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