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Hold on to Sterling as UK economy improves
The UK economic recovery is back on track, with unemployment this week set to have continued its fall.
Saxo Bank's Nick Beecroft expects it to have fallen a further 1 percent to 7.6 percent, taking it ever closer to the all important 7 percent. Bank of England Governor Mark Carney has said the central bank would not raise interest rates before the unemployment rate falls to that level.
The Bank of England forecasts it will take until late 2016 before unemployment drops this far, despite strengthening economic growth, but most private-sector economists think unemployment will decline much faster.
Nick now expects rates to go up before the next general election.
He says the UK is "looking to be the strongest economy compared with the eurozone and the US", so he thinks investors should hold on to sterling for now.
01:42 minutes
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