Sterling steadies near 23-month high versus euro By Reuters

Sterling steadies near 23-month high versus euro By Reuters
Sterling steadies near 23-month high versus euro © Reuters. FILE PHOTO: Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

By Joice Alves

LONDON (Reuters) -Sterling rose on Tuesday to touch a pre-pandemic high versus the euro, supported by expectations that the Bank of England will raise interest rates further.

The pound edged 0.1% higher versus the euro at 83.35 pence by 1600 GMT, after touching its highest level versus the single currency since February 2020.

Against the dollar, it rose 0.2% at $1.3611, hovering around its highest level since Nov. 4, when the pound slid 1.5% on the day after the BoE surprised the market by keeping interest rates unchanged.

Over the past weeks, investors have ramped up expectations that the BoE will raise interest rates as early as next month after a surprise hike in…

Continue reading

Leave a Reply

Your email address will not be published. Required fields are marked *