UK’s prime minister desire to provide for soft Brexit, which assumes close economic partnership with European Union, will support sterling, Bloomberg reports with reference to Deutsche Bank AG.

Bank of England’s plan to raise interest rates in August this year will provide additional support to pound as well.

Deutsche Bank forecasts pound’s growth by 6,6% to $1,41 at the end of the year. This is more optimistic estimate than one obtained as a result of Bloomberg’s survey of analytics, which was at $1,34.

New document proposing new free trade area assumes interconnected customs regimes and similar regulation of industrial and agricultural goods.

On Thursday pound was at $1,32. It fell 5,8% during last quarter. This is the biggest lost in two years.