Pound Is Starting to Look Vulnerable After Hitting Two-Year High [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The Bank of England's decision to hold interest rates on Thursday after the Federal Reserve delivered a jumbo cut the day before has lifted sterling to its highest since March 2022 versus the greenback. The pound is the best-performer in the Group-of-10 nations this year by a long stretch, with bets for further strength near the highest in a decade. But a flagging UK growth spurt in the first half and a belt-tightening Labour budget in the cards for October mean there are clouds ahead — increasing the chances the BOE needs to ratchet up the pace of rate reductions to shield the economy, while removing a key pillar of support for the pound. “I think the pound-dollar pair is living on borrowed time,” said Tim Graf, head of EMEA macro strategy at State Street. “Ultimately I think the pound will be lower against the dollar in three to six months' time.” And while other central banks ramp up their pace of easing, the BOE's gradual approach to cuts means th
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