Pound Emerges as a Haven From Trump Tumult After Years of UK Woe
- Hawkish BOE and muted risks from US tariffs are helping pound
- Credit Agricole, Jefferies see GBP outperforming on crosses
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Investors are betting on a rebound for the pound, a sudden u-turn from just 10 days ago when the UK’s big-spending budget exacerbated weeks of selling.
Banks from JPMorgan Private Bank to Credit Agricole SA are predicting further gains for sterling as a hawkish tone from the central bank and politics in the US and Germany turn the UK currency into an unlikely haven. The pound is on track to snap its longest losing streak against the dollar in six years and is poised to post its best week against the euro of 2024.