UK’s Pound Seen at a Turning Point After Peer-Beating Rally
- Currency posts worst weekly performance in almost two years
- Millennium Global sees pound losing up to 10% in medium term
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The market’s confidence in the pound is shattering after a world-beating run.
Traders are now pricing a faster pace of monetary easing, diminishing the allure of the strongest-performing currency among Group-of-10 nations so far in 2024. Some, including Millennium Global Investments, see it sliding as much as 10% over the medium term.