Sterling rallies to one-year high versus dollar
2017-09-12 18:00:04 GMT (
Sterling rallies to one-year high versus dollar

Sterling rose nearly one percent against the dollar to the highest since September 13, rebounding for the eleventh session out of fourteen from the lowest since June 27, following an array of data from Britain and the US, the world's largest economy. 


As of 05:46 GMT, GBP/USD rose 0.83% to 1.3272 from the opening of 1.3163, with a year high at 1.3288, and a session-low at 1.3161. 


Earlier UK data showed consumer prices accelerating by 0.6% in August, besting expectations of a 0.5% rise, and compared to July's 0.1% dip, while on a yearly basis, prices accelerated to 2.9% from 2.6%, also beating expectations of 2.8%. 


Core consumer prices accelerated to 2.7% y/y from 2.4%, surpassing forecasts of 2.4%. 


The Producer Price Index Input accelerated as well to 0.4% in August from 0.1% in July, while rallying 3.4% y/y from 3.2%, passing forecasts of 3.1%, as core producer prices steadied at 2.5%, also besting expectations of 2.3%. 


The upbeat data bolstered expectations of a Bank of England's interest rate hike and tightening of policy in the next few months. 


The BoC is scheduled to convene tomorrow for a periodic policy meeting, where it is expected to maintain interest rates at their record low of 0.25%, and the assets purchase program at 435 billion pound, while from the US, the JOLTS job openings rose unexpectedly in July. 

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