Bruised Pound Shows Signs of Resilience in Face of BOE Stimulus
- Analysts forecast sterling resurgence starting in 2017
- Weaker pound is good for U.K. outlook: Eurizon’s Jen
Bruised British Pound Shows Signs of Resilience
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Mark Carney’s stimulus package dealt the pound more of a glancing blow than a knockout punch.
While sterling has tumbled versus the dollar since the Bank of England governor announced a suite of measures to support the U.K. economy, the currency only fell to levels seen three weeks ago. It’s still about 2 percent higher than the 31-year low reached in the aftermath of Britain’s vote to exit the European Union in June.