Sterling steadies as investors wait for signs from BoE’s Bailey

sterling steadies as investors wait for signs from boes bailey

Sumary of Sterling steadies as investors wait for signs from BoE’s Bailey:

  • Breadcrumb Trail Links PMN Business Author of the article: Reuters Joice Alves Article content LONDON — Sterling steadied on Thursday close to a 2021 low against the dollar, supported by expectations of a rate hike in the United States, while investors awaited for a Bank of England Governor’s speech later in the day.
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  • Article content “We continue to expect the bank to tighten next month, by 15 basis points.
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  • Article content Analysts said recent moves versus the dollar have been a reflection of the strengthening dollar on the expectations the Federal Reserve will raise interest rates.
  • Against the euro, sterling edged 0.1% lower at 84.15 pence, remaining close to a 21-month high of 83.80 touched on Monday against the weakening single currency, hit by new COVID-19 restrictions across the region.
  • “The focus has moved on from GBP this week as the dollar stays strong across the board and continental Europe suffers fourth waves in the pandemic,” ING analysts said.
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