Sterling reaches six-week high versus euro
Sterling reached a six-week high against the euro after revised data showed stronger second-quarter UK economic growth. The upward revision reinforced expectations for a Bank of England rate hike.
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Sterling climbed to a six-week high against the euro during Wednesday morning trading after an upward revision to the second-quarter GDP data reinforced expectations for further monetary tightening from the Bank of England. The GBP/USD pair edged up 0.4% to reach $1.3292, recovering from a three-month low touched in the previous session. The move highlights shifting yield expectations across G10 currencies as central banks diverge in their policy trajectories.
