-
BoE expectations boost pound to three-and-a half-week high vs euro
Britain’s pound rose to a three-and-a-half-week high against the euro on Monday, helped by speculation that the Bank of England may sound more hawkish on interest rates this week in defence of the currency. Sterling hit a five-week high against the dollar last Friday after better-than-expected manufacturing numbers, and market data showed a month-long build up of speculative bets against the currency stalled in the week to last Tuesday. [IMM/FX] That does not represent a full quelling of the unease that has gathered over sterling in the first months of Brexit negotiations. But it comes ahead of a Bank of England ... (full story)