Sterling and U.K. equities, particularly banks, are offering a surprisingly positive outlook, market experts told CNBC Friday.
and U.K. equities, particularly banks, are offering a surprisingly positive outlook, market experts told CNBC Friday.Thursday while revising up its GDP growth forecasts for 2019 on the back of strong first-quarter data. In a press conference following the announcement, Governor Mark Carney hinted at future rate hikes, striking a slightly more hawkish tone despite ongoing uncertainty over the U.K.'s departure from the European Union.
"We're quite bullish on sterling actually, as we think it's got plenty of room to rise against the dollar," Bloom said. Sterling closed trading at just over $1.30 Thursday, but HSBC's currency strategy team has forecast it to reach $1.37 by the end of 2019. On the equity front, EY Global Assurance Leader Keith Pogson said U.K. banks were surprisingly well positioned to navigate the political uncertainty across major European economies.
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