Despite Pound Advance, JPMorgan Warns of U.K. Recession
The pound headed for a weekly advance after a series of reports showed the U.K. economy is remaining resilient in the wake of the vote to quit the European Union. Sterling climbed against all but one of its 16 major peers after July inflation, import prices and jobless claims beat forecasts, suggesting that -- at least for now -- the U.K. is shrugging off economists’ warnings of a post-Brexit slowdown. While surveys after the June 23 vote had already signaled contractions in various sectors, this week’s figures were the first concrete evidence of the referendum’s economic impact. J.P. Morgan Asset Management Global market strategist Michael Bell discusses with Bloomberg's Francine Lacqua on "The Pulse."
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