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Share There have also been periods of excessive adulation of UK economic management. In late 2007, when Gordon Brown was Prime Minister, sterling was trading above $2. So next year the gloom will fade. It won t happen suddenly. People take a while to change their minds. In any case some switch of sentiment has been feeding through in the past few weeks, especially a recognition that UK equities are the only major market that is relatively undervalued.  But by the end of the year investors will have taken a more balanced assessment of the UK. Expect the pound to be back to $1.50, and the FTSE 100 index to end the year significantly higher.

United statesUnited kingdomHamish mcraeGordon brownAndy haldaneEuropean exchange rate mechanismPrime ministerWest coast americaMo neyஒன்றுபட்டது மாநிலங்களில்ஒன்றுபட்டது கிஂக்டம்ஹமிஷ் மக்ரேகோர்டந் பழுப்புஆண்டி ஹால்டேன்ஐரோப்பிய பரிமாற்றம் ரேட் பொறிமுறைப்ரைம் அமைச்சர்