Sterling’s rally has further to run, say Wall Street banks

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Financial Times 11h ago

Sterling’s rally has further to run, say Wall Street banks - Financial Times

Quick Summary:

The Federal Reserve and European Central Bank have each delivered half a percentage point of cuts so far this year, with around 1.4 and 1 percentage points more of cuts priced in by March next year respectively.

Meanwhile, UK private sector activity grew more than expected in August to its fastest pace in four months, while the OECD on Wednesday forecast the UK would have one of the fastest growing of the world’s biggest economies.

Lefteris Farmakis, an FX strategist at Barclays, said the relatively resilient UK economy and slow pace of disinflation was part of the reason for the bank’s bullish sterling view.