Economic outperformance boosts pound to near one-year high, Goldman Sachs predicts upward trend to continue

The UK economy has grown beyond expectations, leading to the pound nearing a one-year high. Goldman Sachs predicts that the pound will continue to rise in the coming weeks. The newly elected Labour government in the UK and the expectation of a delayed interest rate cut by the Bank of England have supported the pound. Goldman Sachs forecasts that the pound against the US dollar could rise to 1.30 within two weeks. UBS Investment Bank expects the pound against the euro to remain around 0.8400 pounds to 1 euro in the long term. The market expects the Bank of England to cut interest rates by 45 basis points this year. Goldman Sachs believes that the pound against the US dollar will rise in the short term