Sterling Hits 16-Month High vs Euro on BOE Rate Hike Bets
Sterling reached a 16-month high against the euro as markets anticipate interest rate hikes from the Bank of England. Concerns over French debt also contributed to the move by casting doubt on further near-term tightening by the European Central Bank.
Sterling rose to a 16-month high against the euro as markets bet the Bank of England will raise interest rates, while French debt concerns have cast doubt on further near-term policy tightening by the European Central Bank. BOE policymaker Catherine Mann said Tuesday that inflation currently above th…