Economic news

Pound stable at one-week lows, underpinned by rate increase anticipations

The pound fluctuated near one-week trough on Thursday amid rising expectations the Bank of England will increase interest rates in May.

Photo: Reuters

The British currency dipped 0.2 percent to $1.3869 on Thursday, its lowest level since Feb. 14, but near a post-Brexit referendum vote top of above $1.43 breached in late January. Versus the euro, sterling was firm around 88.44 pence.

Britain's economy expanded stronger-than-expected economic in the three final months of 2017. The pound is still up almost 3 percent versus the greenback this year as investors awaited the Bank of England's interest rates hike.

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