Keir Starmer's 'shower of gloom' is being felt: the CBI and IoD report a slowing economy amidst deteriorating business confidence, which will pose risks to Pound Sterling's 2024 outperformance.
The pound is on track for its third weekly rise on the trot against both the USD and EUR and has recorded over 2-year highs against both peers this week.
Foreign exchange analysts at Goldman Sachs have raised their forecasts for Pound Sterling on account of ongoing economic resilience and a reasessment of the Dollar's outlook.
Pound Sterling Retreats from Highs
- Category: GBP
The British Pound is handing back recent gains against the Euro and Dollar and we suspect technical considerations, softer equity markets and quarter-end flows are all playing a role.