(Bloomberg) -- The pound rose to a 26-year against
the dollar on speculation the Bank of England will keep raising
U.K interest rates, as the Federal Reserve stays on hold.
Britain's currency extended its gains to 1.2 percent this
week as Moody's Investors Service cut ratings of bonds backed by
subprime mortgages and Standard & Poor's threatened to do the
same. Investors expect BOE policy makers to raise rates a quarter
point by year-end, and are adding to bets on a further increase
to 6.25 percent.
Read more at Bloomberg Currencies News
the dollar on speculation the Bank of England will keep raising
U.K interest rates, as the Federal Reserve stays on hold.
Britain's currency extended its gains to 1.2 percent this
week as Moody's Investors Service cut ratings of bonds backed by
subprime mortgages and Standard & Poor's threatened to do the
same. Investors expect BOE policy makers to raise rates a quarter
point by year-end, and are adding to bets on a further increase
to 6.25 percent.
Read more at Bloomberg Currencies News
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