Pound Recovers From 2009 Low as HSBC, BlackRock Argue Bull Case
- Sterling also rallies versus euro on Draghi's stimulus hints
- BOE's Weale says he's `fairly upbeat' about U.K. economy
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The pound rebounded from the lowest level since 2009 against the dollar as the world’s largest asset manager and Britain’s biggest bank made the case for turning bullish on the U.K. currency.
BlackRock Inc. said it’s taking a long position, or a bet the U.K. currency will advance, versus the euro, while HSBC Holdings Plc boosted its year-end forecast to $1.60 from $1.50 previously. Sterling rallied from its weakest level in a year versus the euro after European Central Bank President Mario Draghi’s hints of further stimulus sparked a slide in the shared currency.