Sterling steadies near 21-month low against strong dollar

By Reuters

The British pound edged higher on Thursday but was still trading near a 21-month low against a buoyant U.S. dollar that has hit multi-year peaks against both the Japanese yen and euro. Expectations of aggressive Fed tightening this year have pushed yields on U.S. 10-year notes around 45 basis points this month, in turn sending the dollar index to a five-year high. Meanwhile, the Bank of England's Monetary Policy Committee is scheduled to meet next week and looks set to lift its policy interest rate by 25 basis points, marking the fourth consecutive meeting in which rates have been increased.

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Via:: Sports Headlines


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