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State Street Takes Substantial Stake in Smartgroup
State Street: The British pound is surviving on borrowed time and it is currently meaningless to chase higher prices.
September 20th, Sterling led the gains among other currencies this week, but jpmorgan private banks, state street global markets, and jefferies financial strategists say that these gains appear increasingly fragile. However, the lackluster economic growth in the United Kingdom in the first half of the year, combined with the possibility of a tight budget from the Labor Party in October, means dark clouds ahead - increasing the likelihood of the Bank of England needing to accelerate rate cuts to protect the economy, while also removing a key pillar supporting the British pound. Tim Graf, head of macro strategy at state street banks EMEA, said: "I believe the pound against the dollar is surviving on borrowed time. Most"
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