Ever since the surprise leave vote in the UK, investors have braced for a financial tsunami that could overwhelm the UK economy. Thus far, there has only been one real casualty—the Pound Sterling. All the while, the UK economy has surprised forecasters. The UK Manufacturing PMI already bounced back to an impressive 55.4; retail sales were surprisingly resilient and, most puzzling to economists, UK 3rd quarter GDP grew at a healthy clip of 2.3% Q3 year-over-year. So, what is really going on? Continue reading "Sterling Close To A Turnaround?"
