Higher for Longer Rates to Underpin Pound Sterling vs. Euro and Dollar
The Pound to Euro exchange rate is up 4.67% in 2024, and the Pound to Dollar exchange rate is down 0.40%, making Serling the second-best performing G10 of the year after USD. The Bank of England expects interest rates to be cut at a steady one-per-quarter rate in 2025, which implies four 25-basis point cuts.