British pound surpasses counterparts on rate outlooks
July 15, 2015 2:15 am
The British pound outperformed its rivals on Wednesday following the Bank of England placed the likelihood of an interest rate hike in front and at the center.
BOE Governor Mark Carney told British lawmakers Tuesday the timing for a first rate increase since the financial turmoil was inching closer.
Versus the US dollar and the Japanese yen, sterling finished at $1.5640 and ¥192.94, respectively. The pound stood at 70.33 pence per euro.
We think the move will go on in the following weeks and months “as pricing for rate hikes still appears too distant in our view,” said Greg Moore, Senior Currency Strategist at RBC Capital Markets.
Meanwhile, core retail sales slipped 0.1%, igniting worries the UK economy was slowing again.
The material has been provided by InstaForex Company – www.instaforex.com
The British pound outperformed its rivals on Wednesday following the Bank of England placed the likelihood of an interest rate hike in front and at the center.
BOE Governor Mark Carney told British lawmakers Tuesday the timing for a first rate increase since the financial turmoil was inching closer.
Versus the US dollar and the Japanese yen, sterling finished at $1.5640 and ¥192.94, respectively. The pound stood at 70.33 pence per euro.
We think the move will go on in the following weeks and months “as pricing for rate hikes still appears too distant in our view,” said Greg Moore, Senior Currency Strategist at RBC Capital Markets.
Meanwhile, core retail sales slipped 0.1%, igniting worries the UK economy was slowing again.
The material has been provided by InstaForex Company – www.instaforex.com
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