British pound hits seven-week high against wilting dollar
TLT•Sterling rose 0.63% to $1.3495, its highest level since September 15, as the dollar weakened and traders awaited the Bank of England’s Thursday policy decision.
1. Sterling rises
The pound climbed to a seven-week high against the dollar, rising 0.63% to $1.3495. It traded at 83.43 pence per euro, slightly firmer on the day.
2. Rate decision ahead
Sterling drew support from expectations of a Bank of England rate increase on Thursday. Some analysts said market expectations for rate rises may already be stretched, while some economists expect the central bank to temper bets on three to four increases in 2027.
