(Bloomberg) -- The pound traded near its highest in
26 years against the dollar on expectations the Bank of England
will raise interest rates this week and signal further increases
may be needed to cool economic growth and inflation.
The U.K. currency gained to as high as $2.0196 today, the
strongest since June 2, 1981. BOE policy makers will lift
benchmark rates a quarter percentage point to 5.75 percent on
July 5, according to economists surveyed by Bloomberg News.
Governor Mervyn King told U.K. lawmakers in London last month
that the risk of inflation ``remains to the upside.''
Read more at Bloomberg Currencies News
26 years against the dollar on expectations the Bank of England
will raise interest rates this week and signal further increases
may be needed to cool economic growth and inflation.
The U.K. currency gained to as high as $2.0196 today, the
strongest since June 2, 1981. BOE policy makers will lift
benchmark rates a quarter percentage point to 5.75 percent on
July 5, according to economists surveyed by Bloomberg News.
Governor Mervyn King told U.K. lawmakers in London last month
that the risk of inflation ``remains to the upside.''
Read more at Bloomberg Currencies News
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