Avoiding corporate cable complacency
MARKET VOICE
It would be complacent for corporates to view the new breakthrough cable level as a sign the UK/US exchange rate could climb further, or that it has peaked. Yet subsequent events in the markets have lulled exporters into believing we are at a high-point, and have made importers believe we have reached a new medium-term trading level. In reality, there are a number of unresolved issues that will continue to affect GBP/USD.
The 15-year gap since we last saw a $2.00 pound – sparked by the exchange
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