Pound Outperforms as UK Economy Defies Gloomy Forecasts

The British pound is outperforming over 90% of global currencies this year as the UK economy is holding up better than expected.

The pound's gains are due to resilient economic data signaling the Bank of England may not cut rates as quickly as other central banks.

The UK avoided the sharp downturn many predicted in 2023, but high interest rates still slowed growth.

There are encouraging signs in UK jobs and services prices, but risks remain and more data is needed.

The pound has rallied after the UK government's recent budget avoided concerns about excessive spending.