Sterling on For Seven Day Winning Streak

The pound rose for a seventh day versus the dollar, set for its longest winning streak since April 2015, after Bank of England Governor Mark Carney said Wednesday that the Monetary Policy Committee may need to raise interest rates despite a weakening economy.

Sterling erased its post-election losses and rose against most of its 16 major peers Thursday after Carney appeared to rein back on some of his rhetoric from last week when he suggested that he was firmly placed among the other doves on the MPC. It extended gains past $1.30 as chief economist Andy Haldane told the BBC that the BOE needs to look seriously at raising rates.

Bloomberg

EUR and GBP Extend Gains on Tightening Prospect

EUR/USD – Euro Hits 14 Month Highs on Draghi Remarks

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.