Sterling holds near six-month high
The pound hovered near a six-month high against the dollar as strong economic data fueled expectations for Bank of England rate hikes. However, analysts warn the currency could decline if rates remain unchanged.
Insights:
Sterling hovered near a six-month high against the dollar during Tuesday morning trading, driven by expectations of BoE rate hikes. The currency traded at $1.3632 while the euro bought 85.54 pence. The pound's four-week rally stems from strong first-half economic data.
