Sterling Looks Vulnerable as BOE Looks Set to Hold Rates as Others Hike
Dow Jones
Yesterday
0937 GMT - Sterling looks vulnerable as the Bank of England is likely to keep interest rates steady Thursday as other central banks lift rates, Monex Europe analysts say in a note. The Federal Reserve and Bank of Japan look set to raise rates on Wednesday and Friday respectively, while the European Central Bank increased rates last week, they say. In contrast, the BOE could vote 6-3 to leave rates at 3.75%, they say. Soft wage growth in Tuesday's U.K. labor market data reinforces this divergence, weakening sterling, they say. Sterling falls 0.2% to $1.3470. The euro rises 0.1% to 0.8560 pounds.
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