(Bloomberg) -- The U.K. pound gained for the first
day in three versus the dollar after a government report showed
factory-gate prices rose for a seventh month in June, adding to
the case for further interest-rate increases.
The pound posted its biggest advance for a week, trading
near its strongest since June 1981, after the report stoked
speculation the Bank of England isn't finished lifting borrowing
costs. The central bank last week raised its benchmark lending
rate for a fifth time in a year to 5.75 percent.
Read more at Bloomberg Currencies News
day in three versus the dollar after a government report showed
factory-gate prices rose for a seventh month in June, adding to
the case for further interest-rate increases.
The pound posted its biggest advance for a week, trading
near its strongest since June 1981, after the report stoked
speculation the Bank of England isn't finished lifting borrowing
costs. The central bank last week raised its benchmark lending
rate for a fifth time in a year to 5.75 percent.
Read more at Bloomberg Currencies News
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