Tokyo-Mitsubishi UFJ predicts the strengthening of the pound against the dollar

In the following months, the British pound could rise on the dollar. This forecast analysts Tokyo-Mitsubishi UFJ explain the restoration of the real estate market in the UK, as well as the fact that the restoration of the dollar does not reflect a real improvement in the U.S. financial sector. In November 2007, the British pound reached a 26-year peak at $ 2.1158, just when the real estate market reached its peak. Then in January, the currency fell to a 23-year minimum on $ 1.3504 - the price of real estate at that time fell by 12%. The slowdown in price decline in real estate should provide support for pound. Probability of growth of the British pound against the dollar was also due to the weakening of the factors supporting the demand for the dollar. Analysts of Tokyo-Mitsubishi UFJ recommend hold long positions on the pound against the dollar.