Pound sterling up against Euro & Dollar

The British Pound is finding support as “the message is getting through” that the Bank of England is serious about keeping interest rates at 5.25% for longer than the market expects.

This is according to a new analysis from Bank of America, which finds that improved UK data outcomes are helping reinforce the Bank’s ‘higher for longer’ message.

“Higher for longer rates helped by data bounce & critical for further GBP recovery,” says Kamal Sharma, an analyst at Bank of America in London. “GBP should trade at top of reset range.”

Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.

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