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Sterling near 26-year high against Dollar before BoE rate?

Discussion in 'Forex Daily News & Outlook' started by prav, Jul 5, 2007.

  1. prav

    prav Moderator
    Staff Member

    Apr 28, 2007
    Likes Received:
    The Dollar stayed near a 26-year low against Sterling and two-month through versus the Euro, as investors awaited interest rate decisions by the Key Central Banks today. The Yen was under broad pressure from the Bank of Japan's 0.5% policy rate, the lowest among major countries, and the Central Bank's repeated pledge to raise rates only gradually. The Bank of England is widely expected to lift rates by 25 basis points to 5.75% after a two-day meeting that ends today, taking them further above the Federal Reserve's 5.25% rate. Also today, the European Central Bank and its president, Jean-Claude Trichet, are seen reinforcing expectations for higher rates in the euro-zone eventually, while keeping them on hold for now at 4%.


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