Bank of America say Sterling has more room to rise ...Middle East

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Bank of America say Sterling has more room to rise
Bank of America cite:fading of excessively negative views on the UK economyUK remains a largely underinvested/undervalued sector in the asset allocation spacethe currency remains fundamentally undervaluedthe political backdrop is more favourablethere is a more positive outlook for UK-EU relationsGBP/USD fell on Wednesday in line with a surging USD pretty much everywhere.Faster cuts from the Fed than BoE could be supportive also. This article was written by Eamonn Sheridan at www.forexlive.com.

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