Meera Chandan, global co-head of foreign exchange business at J.P. Morgan Chase, said that in the “policy vacuum” period before British Prime Minister Andy Burnham announces the fall budget, the pound will be supported by its relatively high yield. The budget will make its fiscal policy more clear. Until the budget is announced — usually in November — the pound's transactions will “depend on more practical factors, namely economic growth and how the Bank of England will respond.” “Economic growth brought about an upward surprise, and its performance was better than the Bank of England's predictions, and better than the market's unanimous expectations”; the British pound's position as the currency with the highest yield among G10 currencies “kept the pound quite resilient.”
Zhitongcaijing · 2d ago
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Meera Chandan, global co-head of foreign exchange business at J.P. Morgan Chase, said that in the “policy vacuum” period before British Prime Minister Andy Burnham announces the fall budget, the pound will be supported by its relatively high yield. The budget will make its fiscal policy more clear. Until the budget is announced — usually in November — the pound's transactions will “depend on more practical factors, namely economic growth and how the Bank of England will respond.” “Economic growth brought about an upward surprise, and its performance was better than the Bank of England's predictions, and better than the market's unanimous expectations”; the British pound's position as the currency with the highest yield among G10 currencies “kept the pound quite resilient.”
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