Sterling Advances: UK Poised for Strongest Quarterly Performance in Two Years
Sterling is set for its largest quarterly gain against the dollar in over two years due to dollar weakness and positive sentiment around a UK-US trade deal. The pound has appreciated 9% over six months. British assets gain favor as the UK achieves a significant trade agreement with the US.
The British pound is on track for its most significant quarterly increase against the dollar in more than two years, largely due to a weakened dollar and optimism surrounding a trade agreement between the United States and the United Kingdom.
Having gained approximately 6% against the U.S. dollar, the pound is benefiting from a "sell America" sentiment amidst fears of recession due to President Donald Trump's unpredictable policymaking. The pound's value has risen over 9% in the past six months, marking its best performance since October 2022.
Bolstering confidence in British assets, the UK emerged as the first global economy to secure a trade deal with the U.S., which included a reduction in tariffs on certain British industrial products.
(With inputs from agencies.)
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