Sterling gains 0.4% against the greenback, with Scotiabank analysts eyeing a move to the 1.36 area as the market prepares for the Bank of England's interest rate decision.
The pound is up about 0.4% intraday against the dollar, and Scotiabank points to a recovery toward the upper 1.36 area. A 25bp Bank of England hike is largely priced, but expected further tightening supports sterling; UK PMI revisions had little impact.
The upper 1.36 area against the US Dollar.
The Bank of England decision, where a 25bp hike is largely priced and further tightening is expected.
The Bank of England is expected to deliver a 25bp hike, with further tightening anticipated, which supports sterling. The pound is already up about 0.4% intraday against the dollar, while UK PMI revisions had little impact.
A 25bp hike is largely priced, and further tightening is expected.
It is rising about 0.4% intraday against the US Dollar.
The British Pound climbed 0.4% against the US Dollar as market participants look toward the upcoming Bank of England policy decision. Scotiabank strategists anticipate a recovery toward the 1.36 handle, supported by expectations of further monetary tightening beyond the widely priced 25 basis point hike.
Scotiabank strategists are targeting a recovery toward the upper 1.36 area against the US Dollar.
The market has largely priced in a 25 basis point hike, with investors now focusing on signals regarding further monetary tightening.