Jonathan Cook
on April 28th, 2026 The UK’s economic momentum has helped to support it in recent days, as PMI data GDP pointed to a better initial response to the energy crisis than expected. However, that isn’t the sole factor supporting the pound. Currency markets are pricing in a more hawkish Bank of England and the recent jump in government borrowing costs (and therefore, yields) has been good for the pound, even if it’s been burning a hole in government coffers.
GBP/USD: the past year
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