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Sterling will be strongest major currency in 2011, says Barclays
The prediction came as Barcap, the securities arm of the retail bank, also used its 2011 outlook to predict that stock markets will outperform government bonds and that the US economy will stage a stronger recovery than it has managed in 2010. The pound, which has been hard hit since the financial crisis, will end next year at $1.82 against the dollar and 78p versus the euro, it was estimated. The currency closed on Thursday in London at $1.5728 and 84p. The UK currency's performance will be matched by a strong showing for the FTSE 100, according to Barcap, which expects the index to rise by about 18pc next year and ... (full story)