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Pound proves economists wrong in world-beating rally: Currencies

Posted on 13 September 2013

The rally that made the pound the best-performing major currency the past six months is gathering momentum as the U.K. economy defies the skeptics.
Options traders are the most bullish on the pound versus the euro since November and have cut bets Britain’s currency will weaken against the dollar to the least since May. While economists and strategists have raised their forecasts for the pound against the greenback to the highest since April, the median estimate still calls for a 4.4 percent decline by year-end, data compiled by Bloomberg show………………………………………..Full Article: Source


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