City Reveves throws the pound before the summer statement

Money managers throw pounds before Rachel Reeves spring statement As the city’s growth and 25 billion pounds of £ 15 billion as public spending cuts.

Bank of America says that pounds of pounds by institutional investors, such as active managers and mutual funds, were average in the last weeks.

Professional investors sell sterling An expected discount on growth forecasts Budget liability from the office (OBR).

Excessive guards are expected to be presented to this year, it is expected to be submitted to 1PC from 2pc.

Tuesday credit rating agency S & P Global This year reduces the forecast for Britain to grow up from 1.5pc to 0.8pc.

His economists said: “High prices and weak growth show that the economy has lost a little power to grow after the latest shocks, ie Covid-19 pandemics, brexit and energy crisis.

“At the same time, the workplaces and households in England are in line with changes in state policy.”

Weak growth has left the corner with the risk of violating itself financial rules. He is expected to announce a $ 15 billion discount for public spending to redistribute the October budget on Wednesday.

At the beginning of the year, after the increase in the government’s debt expenditures, heavy cuts, MS Reeves, which resulted in £ 9.9 billion, left the budget.

The Bank of America’s strategy has claimed that the financial rules of the MS Reeves are a weight in sterling.

He said: “It was a relative sensitivity of the nominal financial board that has caused us about the UK, the nominal group of gravity for the markets, which is a gravity for markets.”

Bank of America analysts said the markets were “under prices under the probability of the possibility of acute movements in the pound as a result of the Prices of MS Reeves. Mr. Sharma said the “worried about satisfaction,” America was shown in the market until the cost of the spring.

Although institutional investors are seriously sold, it has been more than 6pc against the dollar since January-January. Donald Trump, as the rallies progressed with tariff policies, more than the power of Sterling was managed for the weakness of the US currency.

Sterling Since the turn of the year since the turn of Europe, Sterling has been resolved in Europe for the development of the State Finance and 500 billion euros (£ 420 billion) in front of the euro to about 1pc against the Euro.

Institutional investors are just part of the market for sterling. Other buyers and sellers include retail investors, banks and enterprises in need of currency for retail border trade.