RBC Capital Markets expects the pound to remain resilient in the short term, with forecasts showing GBP/USD holding firm before edging higher into year-end.
News that Torsten Bell is writing the November budget is unsettling for markets.
The British Pound is facing comparisons with Britain’s 1976 currency crisis as economists warn of a dangerous mix of high inflation, weak growth and fiscal stress.
However, gains are tepid and likely reflect news that "employment was again a weak spot".
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