(Bloomberg) -- The pound may gain for a second day
versus the dollar on speculation signs of continued growth in
U.K. consumer spending will prompt the central bank to raise
interest rates again this year.
The U.K. currency is near its strongest since June 1981 on
investor bets the Bank of England hasn't finished lifting
borrowing costs, after raising its main rate for a fifth time in
a year last week to 5.75 percent. Retail sales in Europe's second
largest economy rose 3 percent in June, compared with growth of
1.8 percent a month earlier, the British Retail Consortium said.
Read more at Bloomberg Currencies News
versus the dollar on speculation signs of continued growth in
U.K. consumer spending will prompt the central bank to raise
interest rates again this year.
The U.K. currency is near its strongest since June 1981 on
investor bets the Bank of England hasn't finished lifting
borrowing costs, after raising its main rate for a fifth time in
a year last week to 5.75 percent. Retail sales in Europe's second
largest economy rose 3 percent in June, compared with growth of
1.8 percent a month earlier, the British Retail Consortium said.
Read more at Bloomberg Currencies News
No comments:
Post a Comment