Why did Andrew Bailey decide now was the time to flip the Bank of England's message on interest rates? It could have to do with the value of the Pound.
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Pound Sterling's sharp drop against the Euro has emboldened the bears who see further losses ahead.
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Pound Sterling's big reaction to an apparent switch in thinking at the Bank of England might be overdone.
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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.
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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.
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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.
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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.
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