Sterling hit its highest level against the US dollar in 10 months on Tuesday, topping $1.25 for the first time since June 2022. The pound, which has advanced about 3.3% versus the greenback since the start of 2023, is the best-performing currency among developed economies this year. The UK currency has been boosted by indications the country’s economy is holding up better than expected. Activity is now thought to have expanded 0.
6% this year, while all other advanced economies would grow, if only slightly. “There was a lot of pessimism being priced into the pound,” said Francesco Pesole, a currency strategist at ING. But the sharp pullback in energy prices and China’s reopening have provided some relief about the economic outlook since the start of the year. “There was a big re-rating of growth expectations around Europe, and that impacted the UK,” Pesole said. The euro has also been lifted by these dynamics, rising 2.
Do not think for a minute the pound is safe either. lmfao. Their crashing the global fiat system. To usher in cbdc..
Ghh
This is why Pure & sound Financials matter...A Bimbo whether he or she would have created another Sri Lanka. Good sense prevailed. On the current strength expect GBPUSD to move upto 1.5😊Seriously doubt if Labor can match up☺️
Except the ruble 😂
Get used to seeing more of that in the EU and US
Is the owner of CNN Minorussy or Majorussy?