Pound Soars to Two-Week High on Upgraded Economic Projections

The British pound has reached a two-week high due to an upgrade in economic growth projections and high bond yields.

According to Martin Beck, Chief Economist at WPI Strategy, 'The UK economy defies the gloom as GDP is revised higher.'

The Office for National Statistics (ONS) has revised Q2 GDP growth up to 0.5% from 0.4%, citing stronger evidence of resilience in the face of external pressures.

This positive economic performance has consistently surprised analysts, contributing to a strong pound and supporting its outperformance in recent months.