According to monthly poll conducted by Reuters among 60 banks and analysts, British pound that has declined versus the greenback from $1.6800 to $1.5900 in the second quarter will remain at these levels for some time.

The respondents think that the pair GBP/USD will trade in the $1.6100 region during the next half of a year. The median forecast shows that sterling will start slowly strengthening only in 2012. The surveyed expects see pound reaching $1.6300 and then pulling back down to $1.6200 by the middle of the next year.


Chart. Daily GBP/USD