June 8, 2023 – Written by John Cameron
Leave a comment STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Ticked Higher on Bolstered BoE Rate Hike Bets
Pound (GBP) Supported by Expectations of Further Tightening
The Pound (GBP) continued to struggle for sustained demand amid a lack of major economic data. However, despite the thin trading conditions, GBP investors could be buoyed on the prospect of further tightening from the Bank of England (BoE).
With a quarter point interest rate rise all but priced in for the June policy meeting, odds are increasing for further hikes. Expectations of the central bank to raise interest rates to 5.5% by the end of the year could…
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