Sterling widens gains to two-week high

2021-10-14 10:34:57 GMT (Economies.com)
Sterling widens gains to two-week high

Sterling rose in European trade against dollar for another session, marking two-week highs as dollar's gains were curbed after the Federal Reserve's policy meeting.

 

GBP/USD rose 0.3% to 1.3699, the highest since September 28, after a session-low at 1.3651.

 

GBP/USD rose 0.5% in the first profit in four days as the greenback declines against a basket of major rivals. 

 

The dollar index fell 0.15% on Thursday, the second loss in a row, marking week lows at 93.86, away from 13-month high at 94.56.

 

The dollar index was hurt as well by the recent decline in 10-year US treasury yields following latest Fed's minutes.

 

The minutes showed the Fed might start cutting down its bonds purchases program by November, but members remained divided on the size of the threat that inflation represents to the economy.

 

Otherwise, sterling is boosted by inflationary pressures in Britain, in turn expected to nudge the Bank of England towards some policy tightening measures.

 
 
 
  Symbol Last Change Chg.%
1.1623
0.0012
0.1051%
1.3773
0.0034
0.2464%
Tadawul
11873.70
27.77
0.23%
24.447
1.133
4.860%
84.665
1.319
1.583%
86.17
0.65
0.76%
1801.840
32.100
1.814%
 
 
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