Business · 21 August 2026
Pound rises for a fourth week as markets expect interest rate hikes
The currency climbed to about $1.37 on Friday, boosted by a weak US dollar and persistent bets on higher borrowing costs. Although economists predict the Bank of England will leave interest rates alone this year, financial traders anticipate a minimum of one rise during 2026. Analysts suggest stubborn inflation might force the central bank into action, despite a recent drop in retail sales.
Reported by Reuters · How we write briefs