(Bloomberg) -- The pound rose to a 26-year high
against the dollar on speculation the Bank of England will keep
raising interest rates while the Federal Reserve stays on hold.
The U.K. currency extended last week's gains after Moody's
Investors Service and Standard & Poor's warned about bonds backed
by U.S. subprime mortgages, suggesting a housing slowdown will
worsen. The pound may be further buoyed before a report tomorrow
that's forecast to show that U.K. inflation exceeded the BOE's 2
percent target for 14 months.
Read more at Bloomberg Currencies News
against the dollar on speculation the Bank of England will keep
raising interest rates while the Federal Reserve stays on hold.
The U.K. currency extended last week's gains after Moody's
Investors Service and Standard & Poor's warned about bonds backed
by U.S. subprime mortgages, suggesting a housing slowdown will
worsen. The pound may be further buoyed before a report tomorrow
that's forecast to show that U.K. inflation exceeded the BOE's 2
percent target for 14 months.
Read more at Bloomberg Currencies News
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