Sterling jumps to a two-month high on expectations of a British interest rate hike

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Wednesday, January 05, 2022 - 17:35
Point Trader Group
Sterling jumps to a two-month high on expectations of a British interest rate hike

Sterling jumped to a two-month high on Wednesday amid growing expectations among investors that the Bank of England will raise interest rates next month after a surprise increase in December.

And growing expectations that Britain will not impose measures to curb economic activity to contain a jump in Covid-19 infections also gave support to the stock market, as the benchmark index on the London Stock Exchange (LON:LSEG) rose to its highest level in nearly two years.

The sterling continued to rise for the second session in a row, reaching $1.3567, its highest level since early November.


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