LONDON, Sept 6 (Reuters) – Sterling rose to trade near a 7-week high against the dollar on Tuesday, amid expectations that Britain had probably dodged a recession in coming months with the economy showing signs of resilience in the aftermath of the shock Brexit vote.
Britain’s economy will not go anywhere near a recession despite gloomy predictions after the Brexit vote, credit rating agency Moody’s has said. The agency said the impact of Britain leaving the European Union (EU) will be less severe than expected,
Sterling inched up on Monday, recovering some of the ground it lost late last week from surveys suggesting Britain was heading towards recession and boosting expectations the Bank of England will have to stimulate growth next month.
