16 Jun 2014
GBP/USD near four-year highs on Bean comments
FXStreet (London) - Sterling remains near to four-year highs after rallying strongly on comments from Bank of England deputy governor Charlie Bean.
The BoE deputy governor said that he would welcome a hike in rates as a sign that the UK economy was on the right track. In an interview with the Sunday Times, bean said that a rate hike: “will be a symbolic step, because it will be an indication that we are on the road back to normality.”
The change in tone from the BoE will put increased pressure on June monetary policy committee meeting minutes that will be released on 18 June. There is speculation that MPC member Martin Weale broke the run of unanimous support for continued ultra-low BoE rates at the June meeting following his recent support for an earlier rate hike.
GBP/USD is currently trading at USD1.6970, dipping slightly after breaking through USD1.700 for the first time since 2009.
The BoE deputy governor said that he would welcome a hike in rates as a sign that the UK economy was on the right track. In an interview with the Sunday Times, bean said that a rate hike: “will be a symbolic step, because it will be an indication that we are on the road back to normality.”
The change in tone from the BoE will put increased pressure on June monetary policy committee meeting minutes that will be released on 18 June. There is speculation that MPC member Martin Weale broke the run of unanimous support for continued ultra-low BoE rates at the June meeting following his recent support for an earlier rate hike.
GBP/USD is currently trading at USD1.6970, dipping slightly after breaking through USD1.700 for the first time since 2009.