Pound makes early gains ahead of BoE decision
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The pound was up against major currencies in early trading on Monday, as all eyes remained firmly on the upcoming Bank of England rate decision.
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The pound crept up against the dollar and euro on Monday after a slight rise in producer prices was interpreted by investors as a sign that the Bank of England (BoE) will be forced to raise interest rates.
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The pound held firm against the dollar and euro after a string of recent economic data continued to suggest that the Bank of England (BoE) will be forced to raise interest rates in the coming months to keep a stranglehold on inflation.
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The pound breaches $2 - close to record highs - in early trade in Europe on expectations of a UK rate rise.
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The pound was firmer after the latest producer price figures out of the UK showed prices continued to rise.
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Stock market investors will next week turn their attention to monetary policy when the Bank of England (BoE) delivers its latest monthly interest rate decision on Thursday.
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Business & money: Pound rises and shares fall on announcement as Bank of England takes 'wait-and-see' approach
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The pound was steady Monday after falling to a four-and-a-half-month low against the dollar of 1.9652 US dollars this morning, as investors turn their attention to Thursday's interest rate decision by the Bank of England.
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The pound was solid on Wednesday after the release of strong wage and consumer confidence surveys.
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The pound trades at a 26-year high against the US dollar as investors look ahead to an expected UK rate rise.
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The pound was firmer after a raft of strong data this morning increased the likelihood that the Bank of England will hike interest rates soon.
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The pound and the euro were stable Tuesday ahead of rate decisions by the European Central Bank and Bank of England on Thursday.
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The pound was down agaist all major currencies in early trading Tuesday.
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The pound firmed following a slightly stronger than expected consumer confidence reading.
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The pound remained sharply higher after the Bank of England's decision to hike interest rates by 25 basis points to 4.75 percent surprised the market, which had been expecting rates to be left on hold.
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Positive economic growth has helped the dollar gain ground on the pound ahead of an anticipated interest-rate decision from the US Federal Reserve.
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The pound was up against major currencies Wednesday as the sell-off on the world's stock markets eased.