Corporate foreign exchange news

The discounted cost of UK goods, services and assets ranging from portable music players to football clubs has encouraged Goldman Sachs to issue a bullish position on the pound.According to Bloomberg data, the UK currency is currently selling at a 22 per cent discount based on purchasing power parity, taking the pound to its lowest level in a decade.And as foreign cash floods the UK market, Goldman Sachs has anticipated that sterling will appreciate nine per cent against the euro and by 14 per cent against the dollar by the end of the year.Meanwhile, Deutsche Bank has also issued a statement declaring that foreign exchange traders are underestimating the risk that the Bank of England will lift interest rates, in line with other European countries.At its most recent monthly policy meeting, the Bank of England's Monetary Policy Committee voted in favour of maintaining the base rate at 0.5 per cent, the lowest level in the bank's 315-year history.