Goldman Sachs predicts that the pound will reach $1.40 against the US dollar, driven by strong UK economic growth and a gradual interest rate reduction by the Bank of England.
The Bank of England's 'patient' approach to interest rate cuts, contrasting with other central banks' aggressive rates, will underpin the pound's strength moving forward.
Goldman warns that political stability under the Labour government further enhances confidence in the pound, especially after the volatility of the previous administration's policies.
Rachel Reeves, the Chancellor, is pushing for an ambitious budget focused on economic growth that prioritizes public investment without resorting to austerity measures.
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