金融市场

Sterling’s rally has further to run, say Wall Street banks

Pound’s gains against the dollar and euro driven by slower pace of interest rate cuts
Sterling has been the best performing of the G10 group of most heavily-traded currencies this year

Sterling is set to make further gains, even after a blistering recent run, thanks to a buoyant UK economy and the Bank of England’s caution on cutting interest rates, say investment banks.

Bank of America and Barclays expect the pound, which is currently trading around $1.3416, to rise to $1.35 by the end of the year. Goldman Sachs has a price target of $1.40 over the next 12 months.

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