11.06.201900:34 Forex Analysis & Reviews: The pound sterling may fall to $1.24

The rate of the British currency against the US dollar can plummet to its lowest level in two years if the new prime minister of the United Kingdom becomes a supporter of a "hard" Brexit, Bloomberg reported.

Recall, on Friday, the head of the British Cabinet of Ministers Theresa May left the post of chairman of the Conservative Party. Now the Tories will have to choose their new leader, who will then take the helm of the government.

According to a consensus forecast of economists who were recently polled by Bloomberg, if an adherent of the "hard" option on Great Britain's exit from the EU (such as, for example, ex-foreign minister Boris Johnson) takes the position, the pound sterling may slump to $1.24

According to experts, despite the fact that the coming to power of a hard Brexit supporter at the moment seems to be the most likely scenario (the odds are estimated at 70%), there is still hope that the British Parliament will prevent the country from leaving the EU without a deal, which could hold back a more significant weakening of the pound.

In addition to B. Johnson, current foreign minister Jeremy Hunt, head of the Ministry of Environment, Food and Agriculture Michael Gove, as well as former Brexit Minister Dominic Raab, are currently applying for the Conservatives' leadership.

According to analysts, if the British government is led by a supporter of the "soft" Brexit (the probability of which is only 30%), the pound may rise to $1.30.

Over the past month, the British currency has lost more than 2% in weight and is now trading near the $1.27 mark.

It is expected that the name of the new Tory leader will be known until the end of July. Thus, T. May may remain in the post of the country's prime minister for several more weeks.