Sterling rises on UK rate hike prospects

2022-01-20 09:57:51 GMT (Economies.com)
Sterling rises on UK rate hike prospects

Sterling rose in European trade against dollar for second straight session on prospects of a rate hike in the UK following strong inflation data.

 

GBP/USD rose 0.2% to 1.3637, with an intraday low at 1.3604, after closing up 0.15% yesterday, the first profit in four days following strong consumer prices data in the UK.

 

The dollar index fell 0.1% on Thursday, the second straight session against a basket of major rivals. 

 

US 10-year treasury yields stopped spiking ahead of further data on rate hike prospects in the US in March.

 

In the UK, consumer prices rose 5.4% in December, the fastest such pace since March 1992, passing estimates of 5.2%, after rising 5.1% in November. 

 

The data increased inflationary pressures on UK policymakers and bolstered prospects of rates a hike in February.

 
 
 
  Symbol Last Change Chg.%
1.0755
0.0102
0.9599%
1.2649
0.0086
0.6858%
22.097
0.186
0.849%
114.265
4.126
3.746%
117.40
3.58
3.15%
1853.350
-3.085
0.166%
 
 
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