Sterling’s prospects on the up, says Saxo Bank

Pounding ahead: sterling's fortunes improve as political uncertainty diminishes for now

- Julia Bahr
- 26 Mar 2018

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The outlook for the pound has turned significantly brighter since an agreement between the UK and the European Union agreed a transition period and eliminated a chunk of political risk priced into the currency, says John Hardy, head of FX strategy at Saxo Bank.

The change of fortune is also supported by market expectations of a rate hike in May – a move the Bank of England appeared to pave the way for at its March meeting. While leaving the key interest rate

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