GBP supported by resilient economic data – SocGen

Kit Juckes, Research Analyst at Societe Generale, explains that Sterling has continued to be supported by resilient economic data, even as Brexit negotiations get under way.

Key Quotes

“So far this year, we’ve seen soft wage growth, but resilient consumer spending and further employment gains. The balance of payments has improved and growth hasn’t collapsed. But uncertainty drags on, the risks to the economy remain huge and when we weigh a very bearish consensus against those risks, we conclude that GBP/USD will remain in the current range for the foreseeable future.”