Pound Sterling's big reaction to an apparent switch in thinking at the Bank of England might be overdone.
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.