HYCM Giles Coghlan: GBP outlook as rates continue to rise

Outlook for GBP has changed

The economic and political climate of the UK made 2022 a year to forget for the GBP.

Among G10 economies, it was one of the worst-performing of the year as investors were forced to grapple with the war in Ukraine, the energy crisis, skyrocketing inflation and a tumultuous period in Westminster. The poor performance of the GBP was compounded by the mini-budget in September, when it  slid to record lows ($1.0856) against the USD - the worst month for the GBP in just under 40 years. Deep Dive: US dollar dominance remains despite 'loss of trust' However, since Rishi Sunak and Jeremy Hunt were elevated from the backbenches to Number 10 and 11 Downing Street, the economy...