Sterling Extends Rally on Rate Hike Bets
The British pound heads toward its fourth straight weekly gain supported by rate hike expectations and a weak dollar. Meanwhile, July retail sales fell as expected following a June surge.
Insights:
The United Kingdom's currency rose 0.19% to $1.3658 on Friday morning, heading for its fourth consecutive weekly gain. The advance came alongside a weaker dollar and persistent rate-hike expectations. This streak keeps the currency near its highest level since February against the greenback.
