Currencies Direct: IMF UK growth upgrade lifts sterling sentiment

By Public Technologies
  • Currencies Direct flagged a firmer tone for sterling, citing renewed expectations for closer UK-EU ties alongside an International Monetary Fund upgrade to the UK’s 2026 growth forecast.
  • The euro stayed under pressure as France’s debt concerns pushed borrowing costs higher, with political risk centered on parliamentary debate over €43 billion in proposed spending cuts.
  • The US dollar drew early support from safe-haven demand tied to geopolitical uncertainty around Red Sea energy flows and a fragile Russia-Ukraine “energy ceasefire,” though improving sentiment could limit gains.
  • The Canadian dollar tracked higher oil prices.
  • The Australian dollar firmed after Reserve Bank of Australia minutes signaled openness to further rate hikes.


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