GBP Strengthens on BoE Rate Hike Expectations Versus USD
The British pound has been the top G10 performer after the US dollar since Middle East tensions flared, as markets price in a Bank of England rate increase next month, according to MUFG.
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MUFG analyst Derek Halpenny noted that the pound has been the second-strongest currency in the G10, trailing only the US dollar, since the outbreak of conflict in the Middle East.
Attention is now turning to the Bank of England's July policy meeting, with interest rate hike expectations lending support to sterling against the greenback.
Source: FXStreet Forex News