(Bloomberg) -- The U.K. pound may fall as traders
judged its recent rise, fuelled by speculation the Bank of
England will keep raising interest rates, was excessive.
The pound climbed through the $2 barrier yesterday for the
first time since May as investors bet BOE Governor Mervyn King
will this week tell lawmakers interest rates need to rise
further. A report showed futures traders have raised bets the
pound will rise, pushing the so-called net long positions to a
four-month high.
Read more at Bloomberg Currencies News
judged its recent rise, fuelled by speculation the Bank of
England will keep raising interest rates, was excessive.
The pound climbed through the $2 barrier yesterday for the
first time since May as investors bet BOE Governor Mervyn King
will this week tell lawmakers interest rates need to rise
further. A report showed futures traders have raised bets the
pound will rise, pushing the so-called net long positions to a
four-month high.
Read more at Bloomberg Currencies News
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