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Laura Cooper
Managing director and head of macro credit at Nuveen (Head of Macro Strategy in transcript); provides macro and market insights on UK fiscal dynamics, sterling, and broader FX themes.
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Nov 5, 2025
• 20min
FX Moment: Fiscal Strain Leaves No Way Out of Sterling Bear Trap
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Laura Cooper, Managing Director and Head of Macro Credit at Nuveen, shares her insights on the precarious state of the UK fiscal policy and its impact on the sterling. She discusses how the upcoming November 26 budget puts pressure on the pound, predicting a challenging landscape for sterling bulls. Laura also explores the implications of fiscal tightening on growth and the likelihood of monetary policy changes from the Bank of England. Additionally, she touches on the recent dollar rebound and gives forecasts for the euro heading into 2026.
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