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GBP/USD Rose to 1.2740 on BOE's MPC Kristin Forbes Comment on Rates

Posted by Chris Advincula on Jun 23, 2017 7:08:48 AM

gbp.6.23.2017.jpg

Sterling rose on extended gains from the 1.2675 level in the prior Asian session to rise to the intraday high of 1.2745 in the Friday European session as traders take into account the hawkish comment by one of the Bank of England MPC member, Krisin Forbes.

In her speech yesterday evening, Kristin Forbes urged her colleagues yesterday to raise interest rates to quell inflation pressure stemming from a weaker pound. The weaker U.S. dollar also aided the rise of sterling.

 

Topics: GBPUSD, Forex

 

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