Sterling on For Seven Day Winning Streak

June 29, 2017 Share Print 0

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

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.