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Forex: GBP/USD: Pound will reach 1.5900 this year; 1.6500 in 2010, Bank of NY Mellon

07 May, 2009 @ 11:58 pm ET | written by FXStreet


FXstreet.com (Barcelona) - The pound has been moving in an ascending trend since having hit 1.3655 on Mar 11, reaching so far levels around 1.5000, and according to the bank of New York Mellon Currency Forecast, the current trend is about to continue during the rest of the year and well into the 2010.

The Sterling, moving between 1.5000 and 1.5100 during the last two days, will end the second quarter around at a 1.5300 average level, to teach 1.5500 in the third quarter, and ending the year at 1.5900.

Furthermore, according to The Bank of New York Mellon the Pound will continue appreciating next year, reaching 1.6200 average leve4ls in the first quarter, and 1.6500 in the second quarter of the 2010 year.

For more information, read our latest forex news.

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