Analyst: The pound is expected to rise again after a rebound; the US court's tariff ruling may lead to a flash in the pan rebound of the dollar.

On May 29, Convera analyst George Vessey pointed out in a report that the pound retreated from a three-year high hit at the beginning of the week, but is expected to resume its rally. He said the dollar's rally after the U.S. federal court ruled to block the Trump administration's sweeping tariffs may have been short-lived. As the political risk premium rises, the uncertainty surrounding the ruling is likely to intensify and reinforce the trading logic of the "sell-off of dollar assets". At the same time, positive developments in the UK trade sector, resilient economic data and the Bank of England's cautious approach to rate cuts are supporting factors for the pound. Vessey believes that the GBP/USD exchange rate could rise to 1.40 later this year, especially as investors restart selling dollar assets due to ongoing U.S. policy uncertainty.