Oliver Mangan: Sterling rebound running out of road, with ceiling likely to be 83p against the euro
There are mounting risks to UK growth from the spring onwards as a result of a tightening of both monetary and fiscal policy, including higher taxes, as well as further increases in energy bills.
The dollar and sterling made good gains in the second half of 2021, on the back of a firming of rate hike expectations in both their economies.
The dollar made significant ground against a broad range of currencies, rising by more than 5% on a trade-weighted basis.
